Nikon Unveils Cutting-Edge Nikon Z 8, Redefining Mirrorless Imaging

Dabur has reduced its strategic vision cycle from four years to three, aiming to create a more agile organization in response to the slowdown in the FMCG sector and global uncertainties. The company has engaged consulting firm McKinsey & Co to refine and align its strategies for the next three years, ensuring they remain relevant to evolving market conditions, CEO Mohit Malhotra said during an earnings call.

"This exercise has already begun, and we plan to conclude the same by the end of the fiscal year. This will enable us to capture emerging opportunities and navigate the future with sharper and more focused vision," he stated.

Previously, Dabur followed a four-year vision plan and is currently in its seventh cycle. Malhotra explained that the shift to a three-year framework was necessary given the volatile macroeconomic environment and the underperformance of the FMCG sector. "Earlier we used to have a four-year vision cycle. We feel that in this volatile and heavy-headwind macroeconomic environment and FMCG not doing so well as a sector... we require validation of our strategies through an external consultant," he said.

By shortening the vision period, the company aims to make its strategies more adaptable and responsive to market changes. "Four years becomes a longish period, and therefore we have truncated it to three years, and it's also in line with the best practice in the industry, which is also around three years," Malhotra added.

McKinsey's role in this vision exercise includes conducting financial analyses, category reviews, and validating the company's overall strategy, including its key segments such as Chyawanprash and beverages. "So, they will focus on that along with defining the numbers in the milestones for the next three years, and this vision exercise will dovetail into the next year budgeting cycle also for us," Malhotra said. He also mentioned that while the exercise is not currently linked to specific target achievements, the company may consider doing so after its completion.

The external consultant will critically assess all of Dabur's businesses, both performing and non-performing, to determine their long-term viability. "Anything which does not have a right to win, they will be questioned and there will be a debate happening between the management and them to retain or to size down or to reduce investments. So, it will be a very strategic exercise that we are doing," Malhotra stated.

Dabur India reported a 1.85 percent increase in consolidated net profit to Rs 515.82 crore in the December quarter, with revenue from operations rising by 3 percent to Rs 3,355.25 crore for the October-December period. The company owns a portfolio of well-known brands, including Dabur Amla, Dabur Vatika, Dabur Chyawanprash, Dabur Honey, Honitus, Pudin Hara, Dabur Lal Tail, and the juice brand Real.

Retail and consumer durables company Whirlpool of India Ltd reported a 48.78 percent year-on-year increase in consolidated net profit for the third quarter of the fiscal year, reaching Rs 44.53 crore. The growth was attributed to calibrated price actions and improved execution in high-margin product categories. The company had posted a net profit of Rs 29.93 crore in the same quarter last year, according to a regulatory filing.

Revenue from operations rose 11 percent to Rs 1,704.85 crore in the October-December quarter, compared to Rs 1,535.65 crore in the corresponding period of the previous fiscal. The company noted that gross margin improvements were driven by pricing strategies and a focus on high-margin categories.

Despite a slow growth environment in the refrigerator and washing machine segments, Whirlpool of India maintained double-digit revenue growth for the third consecutive quarter. “Not only has overall refrigerator and washing machine volume share improved very significantly over last year, but growth is also broad-based with excellent share gains in direct cool, frost-free refrigerators, fully automatic top load and front-load washing machines, which signals robustness of the brand pull and execution excellence,” the company stated.

Total expenses for the quarter increased by 10.9 percent to Rs 1,696.17 crore, while total income, including other income, rose 11.72 percent to Rs 1,755.36 crore.

Shares of Whirlpool of India Ltd closed at Rs 1,149.75 on the BSE on Tuesday, reflecting a 2.73 percent decline from the previous close.

India’s first publicly listed retail Real Estate Investment Trust, Nexus Select Trust, reported a 6 percent year-on-year increase in net operating income, reaching Rs 441.6 crore in the third quarter of the current fiscal year. The company also announced a distribution of Rs 332.69 crore, or Rs 2.196 per unit, for Q3 FY25, reflecting a 10 percent rise. Retail portfolio trading occupancy stood at 96.8 percent, an increase of 70 basis points year-on-year.

Dalip Sehgal, Executive Director and CEO of Nexus Select Trust said “We witnessed strong net operating income growth of 6 percent year-on-year in a market environment showing early signs of consumption recovery. Nine of our malls recorded their highest-ever quarterly consumption in the quarter ended December 2024,”.

Categories such as fashion, jewellery, watches, beauty and personal care, and entertainment contributed to growth in the quarter, supporting an increase in footfalls. “We continue to focus on adding new experiences such as Dino Verse, Anamorphic screens, and live events to make our malls consumption and social hubs,” Sehgal added.

Nexus Select Trust’s portfolio includes 17 urban consumption centres with a gross leasable area of 99 lakh sq. ft. across 14 cities in India. It also comprises two hotel assets with 354 keys and three office assets with a gross leasable area of 13 lakh sq. ft.

Ananya Birla, daughter of billionaire Kumar Mangalam Birla, has announced her entry into India’s retail beauty and cosmetics sector with a new venture. The company plans to introduce a range of beauty and personal care brands across the country through 2025.

According to a statement, factors such as increasing disposable incomes, expanding e-commerce, and evolving consumer preferences are driving the growth of India’s beauty and personal care market, which is projected to expand at an annual rate of 10-11 percent and reach 34 billion USD by 2028.

“With greater exposure to global products and knowledge, Indian consumers now demand more from home-grown brands. This venture aims to meet those expectations with authenticity and innovation and bring world-class products to the Indian marketplace,” said Ananya Birla.

The company plans to launch products across various segments, including makeup and fragrances, with a phased rollout. Birla mentioned that the brands will challenge conventions and redefine consumer experience. The statement highlighted a focus on differentiated packaging, international standards, and promoting individuality. A global expansion for the venture is also under consideration. Further details, including the brand name and investment plans, have not been disclosed.

Ananya Birla, who launched the microlending firm Svatantra Microfin at 17, currently sits on the Aditya Birla Group’s apex strategic board. Svatantra Microfin is the second-largest NBFC-MFI in India and has secured significant private equity investments, impacting over 5 crore lives across 20 states. In addition to her business ventures, she recently introduced a beta version of a homegrown AI platform and has been an advocate for mental health initiatives.

Dabur has emerged as the second-largest player in the oral care segment within modern trade channels in India, driven by the performance of its Dabur Red Toothpaste and premium brand Meswak. The herbal toothpaste category, along with new products like Dabur Gel Toothpaste, has contributed to this growth. The company is working to address gaps in its portfolio to further strengthen its market position.

Operating in the segment with Dabur Red Toothpaste and Meswak, the company reported a 9.1 percent growth for the quarter and sees significant potential in the category. "The Gel toothpaste portfolio has received a good response, recording over 50% year-on-year growth this quarter. Dabur oral care is now the second brand in Modern Trade Pan-India," the company stated in a post-earnings call.

Mohit Malhotra CEO of Dabur quoted "Even in modern trade, where the competitor is very strong with premium variants, we have become the number two brand. This is very encouraging for us,". The oral care market is led by Colgate Palmolive, with FMCG major HUL holding the second position with brands such as Pepsodent, Closeup, and Ayush.

He also added"Dabur Red is performing well, benefiting from the overall growth in the herbal category. The herbal category has expanded by 7 percent compared to 5 percent growth in the non-herbal oral care category,".

Dabur operates in the oral care segment through its flagship brand Dabur Red, with Meswak positioned as a premium product and Babool at the entry level. The portfolio also includes Dabur Lal Dant Manjan and the Herbal Toothpaste range featuring Clove, Neem, and Tulsi.

"Dabur Herbal toothpaste, which we introduced last year, has shown strong double-digit growth. Ingredient-based toothpaste has also performed well for us,"  Mohit added. Despite these gains, the company acknowledged gaps in its oral care portfolio and is working to address them. Last year, it introduced a gel variant to fill one such gap, which has seen positive traction.

Limelight Lab Grown Diamonds, India's largest lab-grown diamond jewellery brand, has secured nearly Rs 90 crore in a funding round. The investment comes from leading fund houses, reputed broking firms, family offices, and the company’s promoters.

With this capital, Limelight aims to strengthen its retail expansion across India, enhance its design portfolio, and drive operational growth in the LGD sector.

Founded by Pooja Madhavan, the company has grown into one of the largest retail brands in the lab-grown diamond jewellery market. It currently operates over 30 standalone stores and 30 shop-in-shop outlets across 35+ cities in India. Limelight benefits from backing by two major industry players—the Bhathwari Group, the world’s largest producer of LGDs, and The Emerald Group, Asia’s largest jewellery manufacturer.

The funding comes amid growing consumer demand for lab-grown diamond jewellery, driven by increasing awareness and a shift toward design-centric and ethically sourced products. The LGD sector in India is experiencing an annual growth rate of 15-20 percent, supporting the company’s expansion plans.

Pooja Madhavan, MD of Limelight Lab Grown Diamonds, stated, "The investment comes at a perfect time when the LGD sector is seeing a disruptive boom in India and will help us accelerate our growth to reach newer heights. We are on a mission to disrupt India's $80 billion jewellery market by offering consumers the widest choice of designer jewellery at the sweetest price points. We remain focused on making Limelight the largest sustainable luxury jewellery brand from India to the world."

Shein has made a comeback in India through a partnership with Reliance Retail, nearly five years after being banned. The newly launched Shein India app, which went live last Friday, is entirely owned and operated by Nextgen Fast Fashion, a fully owned subsidiary of Reliance Retail Ventures Ltd. The products on the platform are manufactured, marketed, and sold exclusively by Nextgen through a network of Indian manufacturers, with most being micro, small, and medium enterprises (MSMEs), according to an industry insider.

The platform has been developed and is hosted in India, with complete ownership and control retained by Reliance Retail. Shein has no equity ownership in the Indian company or the app, and the new platform has no connection to the previously banned Shein app or website (Shein.in), which was directly managed by Shein. The platform infrastructure and all data will remain in India, with no access or rights granted to Shein, as confirmed by industry sources.

Shein India’s fast fashion app from Reliance Retail has already gained over 10,000 downloads on the Google Play Store and is ranked among the top 10 in its category on Apple's App Store. Reliance Retail is now collaborating with Shein to develop a localized model that digitizes the supply chain of Indian MSMEs and factories, boosting job creation and strengthening India's textile sector on a global scale. Additionally, Nextgen is expanding its network of Indian manufacturers to position India as a key supplier for Shein’s global operations, opening up significant export opportunities for Indian MSME garment manufacturers.

Shein was among the apps banned by the Ministry of Electronics and Information Technology in June 2020 following tensions with China. In 2023, nearly three years after the ban, Shein entered into a partnership with Reliance Retail, led by Isha Ambani, daughter of billionaire Mukesh Ambani. Reliance Retail Ventures Ltd (RRVL), through its subsidiary Reliance Retail Ltd (RRL), signed a technology agreement with Roadget Business Pte Ltd, which owns Shein, to develop an indigenous e-commerce retail platform.

In December last year, the Indian government informed the Lok Sabha that while Shein's app remained blocked, the sale of its branded products was not prohibited. Commerce & Industry Minister Piyush Goyal stated in a written response that the platform was designed to establish a network of local manufacturers and suppliers producing Shein-branded products for both domestic and international markets.

The Ministry of Textiles, after consulting with the Ministry of Electronics and Information Technology (MeitY) and the Ministry of Home Affairs, conveyed no objection to Reliance Retail’s proposal.

"The licence agreement covered the protection that ownership and control of the platform will always remain with RRVL through its wholly owned subsidiary. As per the agreement, at all times, the platform will be hosted on infrastructure in India and all platform data will remain in India with Shein having no access to, or rights over, such data," Goyal stated.

The agreement also mandates compliance with Indian laws, including infrastructure localization and data security measures. Shein, founded in 2008, gained popularity for its affordable and trendy apparel, particularly among millennials. It was banned along with 59 other apps in 2020, citing concerns over national sovereignty and security. However, Shein products remained available through e-commerce platforms such as Amazon, and related legal matters were raised in the Delhi High Court.

VERO MODA, a leading western wear fashion brand in India, has revamped its store at Palladium Mall, Mumbai, redefining the shopping experience with a fresh, innovative design. Spanning 2,275 sq. ft., the store seamlessly blends aesthetics, functionality, and interactivity, elevating the retail journey for customers.

The redesigned space features a dynamic LED screen at the entrance, displaying brand stories and product highlights to engage shoppers from the moment they step in. Warm, textured corrugated walls, clay-finished display tables, and sleek stainless-steel matte finishes create a refined, contemporary look. Thoughtfully curated displays and distinctive design elements enhance the store’s premium appeal, encouraging exploration and interaction.

Sustainability is at the core of the new design, with the integration of eco-friendly materials such as clay finishes and energy-efficient LED lighting. A modular layout ensures future adaptability, while the use of low-maintenance materials supports long-term sustainability, making the store both innovative and environmentally conscious.

The revamped VERO MODA store reflects the brand’s commitment to innovation, sustainability, and an enhanced retail experience, setting a new benchmark for premium shopping destinations.

PepsiCo has reported strong double-digit organic revenue growth in India for 2024, gaining market share in both savory snacks and beverages, according to the company’s fourth-quarter earnings statement. For the full year ending December 28, 2024, PepsiCo's net revenue stood at USD 91.8 billion, reflecting a 0.41 per cent increase, while the fourth-quarter revenue was  $27.78 billion, up 0.2 percent.

Ramon Laguarta, Chairman and CEO, PepsiCo, highlighted, "Our businesses remained resilient in 2024, despite subdued category performance trends in North America, the continued impacts related to a recall in our Quaker Foods North America division and business disruptions due to geopolitical tensions in certain international markets."

In the Africa, Middle East, and South Asia (AMESA) division, which includes India, PepsiCo's net revenue grew by 1.27 percent to  $6.21 billion for the year, driven by effective pricing strategies and organic volume growth. The company reported a 2 percent increase in convenience food unit volume, supported by mid-single-digit growth in South Africa and double-digit growth in India. Beverage unit volume also rose by 1 percent, largely due to strong double-digit growth in the Indian market. For the fourth quarter, the AMESA division recorded USD 2.03 billion in net revenue, marking a 5 percent increase. 

PepsiCo management shared, stating, "We expect to deliver low-single-digit organic revenue growth." The company anticipates varied consumer preferences across channels, income segments, and regions. "Our business plans assume that consumer preferences and habits will continue to vary by channel, income cohort and geography. Our commercial plans and go-to-market systems will focus on more precise execution with an adaptive and agile mindset."

PepsiCo also acknowledged ongoing geopolitical uncertainties and foreign exchange volatility, noting that these factors are expected to persist in 2025.

Ardent Alcobev, a growing player in India’s premium alcobev market, has launched Dram Bell, a luxury Blended Scotch Whisky, at an exclusive event at Imara – Turf Club in Mumbai. The launch was hosted by former England cricket captain and marquee investor Kevin Pietersen, alongside the company’s co-founders.
Dram Bell, bottled in Scotland, is available in two variants: the Premium variant priced at Rs. 1,750 and the Reserve variant at Rs. 2,450.

Kevin Pietersen emphasized his personal connection to the brand and its philosophy. “My investment in Ardent Alcobev is more than just a business decision; it's a reflection of my values. Throughout my career, whether on the cricket pitch or in other areas of life, I've always valued dedication, quality, and the pursuit of perfection. Ardent upholds this same commitment while making, which is visible in every part of Dram Bell. We also encourage drinking responsibly, for enjoyment, and not for excessive consumption, so that everyone can savour and enjoy the experience in moderation.”

The event featured an exclusive Whisky Masterclass conducted by Iain Forteath, Master Blender at Ardent Alcobev. Attendees had the opportunity to sample different expressions of Dram Bell and gain insights into the art of whisky blending and tasting.

Debashish Shyam, Co-Founder and Director of Ardent Alcobev, highlighted the company's approach to India’s premium whisky market. “We are redefining India’s premium whisky market with a blend that showcases unmatched quality and craftsmanship. With Kevin Pietersen as a strategic partner, we raise the brand's profile by bridging the gap between international acclaim and preference of Indian market. This approach caters to the discerning tastes of IMFL drinkers who seek sophistication without compromising on their taste. We are confident that it will appeal to whisky connoisseurs as we merge global standards with local tastes to shape the future of Indian whisky, catering to the evolving preferences of IMFL drinkers.”

Dram Bell has been introduced in Maharashtra from November 2024 and will be available at select retail and on-trade stores. The company plans to expand its distribution to key markets in North and South India in the coming months.

Titan, the leading jewellery and watchmaker, reported a slight decline in its consolidated net profit for the December quarter, standing at Rs 1,047 crore, compared to Rs 1,053 crore in the same period last year, as per its regulatory filing. Despite the marginal dip in profit, the company’s sales surged by 25.68 percent to Rs 17,550 crore, up from Rs 13,963 crore in the corresponding quarter of the previous year. The total expenses rose by 27.47 percent to Rs 16,472 crore during the quarter, while total income, including other income, increased by 24.9 percent to Rs 17,868 crore.

Titan’s jewelry business saw a strong 26.62 percent growth, reaching Rs 16,134 crore, with its India segment witnessing a 25% rise. The company attributed this positive trend to the festive season, stating, "The festive quarter brought consumer cheer, with secondary sales recording an impressive 28 percent growth buoyed by higher gold prices, wedding-related purchases growing by 29 percent, and healthy same-store sales growth of 22 percent compared to Q3 FY24."

Gold jewelry and coins remained popular among consumers, recording a 27 percent growth over the third quarter of FY24. Titan expanded its jewelry presence by opening 11 new Tanishq stores and adding 13 Mia by Tanishq outlets in India.

In the watches and wearables segment, revenue increased by 15.31 percent to Rs 1,137 crore. The analog watch segment performed well, with a "robust 20 per cent growth over Q3 FY24 primarily led by Titan brand clocking 18 percent growth in the same period." International watch brands also saw a strong retail growth of 30 percent over the previous year. However, the wearables category witnessed a decline of 20 percent, with average selling prices and volumes falling by 8 percent and 7 percent, respectively, compared to Q3 FY24. The company added 23 new stores in Q3 FY25, including 12 Titan World stores, 10 Helios stores, and one Fastrack store.

Titan’s Eyecare segment revenue grew by 16.66 percent to Rs 196 crore, with international brand sales recording a 56 percent rise compared to Q3 FY24. The company highlighted that "within product categories, sunglasses sales outpaced others, growing 35 per cent while frames and lenses grew in mid-double digits over their respective Q3FY24 numbers." The company also opened three new Titan Eye+ stores during the quarter.

Revenue from Titan’s other segments, including accessories, fragrances, and Indian dresswear brand Taneira, stood at Rs 312 crore, slightly lower than Rs 313 crore a year ago. While "Taneira recorded flattish sales for the quarter," fragrances saw a 27 percent increase, driven by a 23 percent growth in the SKINN brand. In fashion accessories, excluding discontinued belts and wallets, women's bags under the IRTH and Fastrack brands recorded an impressive 25 percent growth over the previous year.

Titan, a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO), saw its shares settle 0.26 percent higher at Rs 3,589.50 per share on the BSE.

The Union Budget 2025 focuses on economic expansion through Global Capability Centres (GCCs) and Public-Private Partnerships (PPPs), two key strategies aimed at enhancing India's infrastructure and export potential. By supporting the growth of knowledge-driven industries and large-scale infrastructure projects, the budget aims to strengthen India's retail and business landscape.

India has long been a hub for outsourcing, but the expansion of GCCs is expected to elevate its position in high-value industries. The Union Budget 2025 introduces a national framework to promote GCCs, particularly in Tier-II cities, to encourage regional economic development and attract multinational companies.

“This budget demonstrates the government's proactive approach towards economic decentralization, with a special focus on promoting the development of GCCs in emerging Tier-II cities. This forward-thinking initiative not only nurtures regional growth but also opens doors for talent acquisition, industry partnerships, and innovation. The creation of a dedicated fund for urban development will reshape our cities, providing the infrastructure and workforce required to attract national and international companies,” said Harinder Singh Hora, Founder Chairman of Reach Group.

By prioritizing Tier-II cities, the initiative is expected to enhance local job opportunities and create industry-specific infrastructure, supporting long-term economic development.

The budget reinforces the role of PPPs in India's infrastructure sector, focusing on transportation, logistics, and urban development. The emphasis on these partnerships aims to bridge infrastructure gaps while attracting private sector investments.

Uddhav Poddar, CMD of Bhumika Group said, “The government's emphasis on infrastructure development and economic prudence sets the stage for sustained real estate growth. A key highlight is the focus on enhancing the role of Public-Private Partnerships (PPP) in India's infrastructure development, which will boost the country's commercial projects while ensuring long-term progress.”

Gaurav Gulati, Managing Director of CCPL added, “The Union Budget 2025 has empowered the country with a special urban development fund, asset monetization, and public-private partnerships. With each infrastructure ministry set to propose three PPP projects, alongside ₹1.5 lakh crore in interest-free loans for capital expenditure, we anticipate significant opportunities in retail developments, further strengthening the commercial real estate sector.”

Increased funding and incentives for PPP projects are expected to attract private investment and accelerate infrastructure development, particularly in commercial real estate and retail hubs.

The integration of GCCs and PPPs has the potential to drive economic growth by aligning infrastructure improvements with knowledge-driven industries. The expansion of smart cities, advanced logistics, and enhanced transportation will create an ecosystem that supports GCCs and boosts India's export potential.

Sanchit Bhutani, Managing Director of Group 108 said, “We welcome the government’s efforts to strengthen India’s economic growth and urban infrastructure sector. While the rebate of income tax up to Rs 12 lakh will provide greater relief to middle-class buyers, the fund for urban development will help elevate India's cities to new heights of growth, sustainability, and modernity. In addition, the national framework for promoting GCCs will guide states in building the right infrastructure. This will further help in creating better talent and implementing reforms that will enable cities to become attractive hubs for multinational companies.”

The synergy between infrastructure development and the expansion of GCCs is expected to enhance India's role in industries such as technology, manufacturing, and research, further solidifying its position in global trade.

With infrastructure and economic development at the forefront, the real estate sector is set to benefit from increased demand for commercial spaces. The push for regional growth and retail expansion aligns with the broader economic strategy outlined in the budget.

“Budget 2025 lays a comprehensive roadmap for economic expansion, with a clear focus on strengthening domestic manufacturing and enhancing India's integration into global supply chains. The government's support for the electronics industry and advancements in automation, AI, and digital technologies will create a demand for specialized commercial real estate in emerging sectors,” said Umesh Bhati, Director of Operations at Bayside Corporations.

As both GCCs and PPPs require well-developed infrastructure, the need for commercial real estate, logistics parks, and office spaces will rise, creating opportunities for investment and economic growth.

The Union Budget 2025 sets a framework for economic expansion through a combination of public-private collaborations and the growth of knowledge-based industries. By focusing on infrastructure development, talent acquisition, and international trade, India is positioning itself as a leader in sustainable economic growth and global business. The alignment of GCCs and PPPs will play a crucial role in shaping the country’s retail and commercial sectors, ensuring long-term development and competitiveness in the global economy.

Skoodle, the flagship brand of Stone Sapphire India Pvt. Ltd. (SSIPL), is strengthening its retail presence in India by increasing the production of eco-friendly recycled paper pencils. The initiative aligns with the brand’s focus on sustainability and aims to reduce the environmental impact of traditional pencil manufacturing.  

In India, producing 9,500 wooden pencils results in the loss of one tree. Skoodle manufactures 720 million wood-free pencils annually, saving an estimated 3,000 trees each year, a practice the company has maintained for six years. A complete shift to recycled paper rolled pencils could further triple this impact, contributing to larger environmental conservation efforts.  

Shobhit Singh, MD and CEO of Stone Sapphire India Pvt Ltd said, “Our commitment to sustainability goes beyond business—it’s a responsibility we embrace wholeheartedly. By introducing recycled paper pencils, we aim to create a lasting positive impact on the environment. This initiative symbolizes the power of small changes that inspire a larger movement. Our vision is for India to lead in sustainability, starting with actionable steps like Skoodle eco-conscious practices.”  

Since 2018, Skoodle’s efforts have contributed to saving 13 acres of forest land annually. The brand focuses on addressing deforestation, carbon emissions, and waste management, encouraging businesses, educational institutions, and individuals to adopt more sustainable practices.  

With an emphasis on innovation and environmental responsibility, Skoodle continues to expand its presence in India’s retail sector, offering sustainable alternatives in the stationery industry.  

Samsung’s flagship store at Bandra Kurla Complex (BKC) in India hosted a special event to mark the early delivery of the Galaxy S25 series, handing over more than 700 devices to pre-order customers. This milestone follows strong demand for the new smartphone series, reinforcing Samsung’s presence in India’s retail market.  

Soon Choi, Corporate EVP/Head of Division, MX Division, Samsung Electronics, was present at the event and personally handed over some of the Galaxy S25 devices to customers. The event also coincided with the one-year anniversary of the BKC store, which serves as a key retail location for Samsung’s premium product lineup.  

To accommodate the large number of customers, the store introduced dedicated data transfer zones and device exchange counters. Additional services, including smartphone case customization using Gen-AI, dedicated tech support, and a Celebration Programme, were also available for customers picking up their new devices.  

The Galaxy S25 series includes the Galaxy S25 Ultra, Galaxy S25+, and Galaxy S25 smartphones. The series features AI-driven enhancements, a customized Snapdragon® 8 Elite Mobile Platform for Galaxy, and the next-generation ProVisual Engine for improved camera functionality. It also runs on One UI 7, Samsung’s AI-first platform designed for personalized user experiences.  

Security features include Knox Vault for data protection and post-quantum cryptography to address evolving cybersecurity risks. With the Galaxy S25 series launch, Samsung continues to strengthen its retail presence in India while advancing AI integration in smartphones.

Ace Turtle, the exclusive licensee of denim brands Lee and Wrangler in India, has opened two new exclusive brand outlets (EBOs) in Jodhpur, Rajasthan. This strategic expansion aligns with Ace Turtle’s commitment to strengthening the presence of Lee and Wrangler in upcoming markets across India, catering to the growing demand for premium denim and casual wear.

The stores are spread across 2,500 sq ft and are located in the high street area of Residency Road in Jodhpur. With these store launches, Lee and Wrangler will continue their retail expansion in 2025, tapping into the fashion-forward yet underserved markets in emerging cities. Jodhpur, known for its rich heritage and evolving urban lifestyle, presents a promising opportunity for the brands to connect with a new wave of consumers seeking high-quality and stylish apparel.

The new stores in Jodhpur showcase Lee and Wrangler’s latest collections, featuring a wide range of denim, casual wear, and accessories designed for the modern Indian consumer. With a focus on innovation, comfort, and sustainability, the brands continue to redefine denim fashion in India.

Ace Turtle remains committed to its omnichannel approach, ensuring seamless integration of offline and online retail experiences. The company’s expansion into Tier II and III cities underscores its vision of making premium fashion more accessible across India, with further store openings planned in the coming months.

Commenting on the expansion, Nitin Chhabra, CEO of Ace Turtle said, “The launch of Lee and Wrangler stores in Jodhpur is a significant step in our journey to make these iconic global brands more accessible to consumers beyond metro cities. The demand for premium denim and lifestyle fashion in Jodhpur is witnessing remarkable growth, and our expansion strategy is focused on tapping into this potential. With these two new stores, we now have four Lee and Wrangler stores in the city. We are confident that our stores in Jodhpur will offer an enhanced shopping experience while bringing the global legacy of Lee and Wrangler closer to consumers.”

Brigade Hotel Ventures Limited, the second-largest owner of chain-affiliated hotels and rooms in South India among major private hotel asset owners, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).

The IPO will consist of a fresh issue of equity shares with a face value of Rs. 10 each, amounting to Rs. 900 crore.

Brigade Hotel Ventures Limited owns and develops hotels in key Indian cities, primarily across South India. As of June 30, 2024, the company is the second-largest private owner of chain-affiliated hotels and rooms in the region, covering Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories of Lakshadweep, Andaman and Nicobar Islands, and Pondicherry, among private hotel asset owners with at least 500 rooms across India.

A wholly-owned subsidiary of Brigade Enterprises Limited (BEL), one of India’s leading real estate developers, Brigade Hotel Ventures Limited entered the hospitality sector in 2004 with the development of Grand Mercure Bangalore, which began operations in 2009. Today, the company operates a portfolio of nine hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka), and GIFT City (Gujarat), offering a total of 1,604 keys.

These hotels are managed by renowned global hospitality brands, including Marriott, Accor, and InterContinental Hotels Group. They cater to the upper upscale, upscale, upper-midscale, and midscale segments, offering a comprehensive guest experience with fine dining and specialty restaurants, meeting and conference venues (MICE), lounges, swimming pools, outdoor spaces, spas, and gymnasiums. Strategically positioned in high-density population areas, premium neighborhoods, commercial centers, and IT hubs, these properties are designed to maximize customer convenience and business potential.

JM Financial Limited and ICICI Securities Limited have been appointed as the Book Running Lead Managers for the IPO.

DOMS Industries Limited (DOMS), a company specializing in manufacturing and marketing a diverse range of products catering to kids, children, and young adults, has announced its financial results for Q3 and the first nine months of FY2025. The company reported a significant growth trajectory despite market challenges.

For Q3FY25, DOMS recorded a 34.9 percent year-on-year increase in revenue from operations, reaching Rs. 501.1 crore compared to Rs. 371.6 crore in Q3FY24. EBITDA for the quarter stood at Rs. 87.9 crore, reflecting a 26.7 percent rise from Rs. 69.3 crore in the same period last year, with an EBITDA margin of 17.5 percent. PAT saw an impressive growth of 39.8 percent, reaching Rs. 54.3 crore compared to Rs. 38.8 crore in Q3FY24, while PAT's margin improved to 10.8 percent.

The nine-month performance for FY25 demonstrated a 23.9 percent increase in revenue, totaling Rs. 1,403.9 crore compared to Rs. 1,133.4 crore in the corresponding period of FY24. EBITDA surged by 32.2 percent to Rs. 260.2 crore, with the EBITDA margin improving to 18.5 percent. PAT for the period rose by 43.9 percent to Rs. 162.3 crore, with PAT margin standing at 11.6 percent.

DOMS also highlighted key operational achievements during the quarter. The company was recognized with the Top Exporter Award for the third consecutive year by the Pen & Stationery Association of India, reinforcing its leadership in the Indian export market. To enhance employee engagement and retention, DOMS approved the grant of 117,045 stock options under the Employee Stock Option Plan 2023. Sustainability efforts saw progress with the successful installation of a 1 MW solar plant at the Umergaon manufacturing facility. Additionally, the company's 44+ acre greenfield expansion remains on track, with the first building for machinery installation expected in Q3FY26.

The acquisition of Uniclan Healthcare has further bolstered growth initiatives. The commercial launch of DOMS Wowper, a co-branded diaper range, along with the installation of a third diaper production line, has expanded production capacity to 65 crore diapers annually. The company has also secured most of the necessary pre-approvals for in-house manufacturing of wet wipes, expected to commence by the end of Q4FY25. In the fine arts sector, DOMS' premium brand AMARIZ partnered with the Plaza Artist Association at the Art Plaza Gallery, Kala Ghoda, Mumbai, to support emerging artists.

Santosh Raveshia, Managing Director, DOMS Industries Limited said, “Despite the tepid market conditions and festive season in India as well as globally, we continued on our consistent growth trajectory during Q3’FY 2025. Our strategic initiatives have played a pivotal role in fuelling this growth. The successful acquisition of Uniclan Healthcare, which led to our entry into Baby Hygiene products, coupled with our timely expansion of capacities across various product categories, have all contributed positively to our quarterly performance. The company's manufacturing cost structure broadly remained stable in Q3 FY'25, with input prices holding steady, resulting in consistent gross margins on a sequential basis. Consolidated EBITDA for the quarter grew 26.7 percent Y-o-Y and 2.2 percent sequentially. However, there was a slight margin compression of approximately 120 bps Q-o-Q which was primarily driven by increased employee expenses, stemming from additional hiring to support production capacity expansion and the impact of ESOP grants to reward employees. Furthermore, we witnessed an increase in selling and distribution expenses primarily on account of consolidation of Uniclan Healthcare. As a result of these factors, the Company's consolidated EBITDA margin stood at 17.5 percent, as on expected lines, but higher than our targeted range of 16-17 percent.” 

Santosh further added, “Going forward, we remain cautiously optimistic in the near term, on improvement in demand conditions with tailwinds from the upcoming back-to-school season, growing emphasis on education and increased Governments’ spending in this sector, contributing to the growth momentum. Our strategic priorities remain unchanged with a focus on delivering consistent and profitable volume growth through expanding our production capacities, investing in our brands, and strengthening our supply chain, positioning ourselves for sustainable long-term growth.”

DOMS Industries Limited ("DOMS" or "the Company") is a leading player in India's stationery and art supplies sector. The company specializes in designing, developing, manufacturing, and distributing a diverse range of high-quality stationery and art products. Its portfolio is categorized into various segments, including Scholastic Stationery, Scholastic Art Material, Paper Stationery, Kits and Combos, Office Supplies, Hobby and Craft, and Fine Art Products.

Tata Chemicals Limited has released its financial results for the third quarter and nine months ending December 31, 2024.

On a consolidated basis, the company reported revenue from operations of Rs. 3,590 crore for Q3FY25, compared to Rs. 3,730 crore in Q3FY24. EBITDA stood at Rs. 434 crore, down from Rs. 542 crore in the corresponding quarter of the previous year. Profit After Tax (PAT) before exceptional items and non-controlling interest (NCI) from continuing operations was Rs. 49 crore, a decline from Rs. 194 crore in Q3FY24.

On a standalone basis, the company recorded revenue from operations of Rs. 1,166 crore, up from Rs. 1,093 crore in Q3FY24. EBITDA stood at Rs. 209 crore, showing a slight increase from Rs. 206 crore in Q3FY24, while PAT was Rs. 72 crore, lower than Rs. 115 crore in the same period last year.

R. Mukundan, Managing Director & CEO, Tata Chemicals Limited said, “Overall Asia including India continues to experience growth, while other markets including the US and Western Europe are witnessing slight decline due to reduced demand for flat and container glass. The company’s overall performance was down as compared to the same quarter of the previous year, mainly due to lower Soda Ash pricing across geographies and higher fixed costs in the US due to plant production outage during the quarter. Our endeavor is to maximize sales through customer engagement while ensuring steady contribution margins with a focus on cost optimization. In the short term, the current demand-supply adverse situation is likely to persist but should improve and stabilize over the long term driven by growth sectors based on sustainability trends.”

Tata Chemicals' consolidated revenue stood at Rs. 3,590 crore, reflecting a 4 percent decline from Q3FY24 due to unfavorable Soda Ash price movements. EBITDA for the quarter was Rs. 434 crore, marking a 20 percent decrease from the previous year. PAT (before exceptional items and NCI) from continuing operations was Rs.49 crore, down from Rs. 194 crore. The company incurred an exceptional charge of Rs. 70 crore related to employee termination benefits, decommissioning of plant and machinery, and other closure-related expenses following the cessation of Soda Ash production at the Lostock plant in Northwich, UK. As of December 31, 2024, gross debt was Rs. 6,722 crore, an increase of Rs. 810 crore, while net debt stood at Rs. 5,329 crore, up by Rs. 952 crore compared to December 31, 2023, due to lower EBITDA and higher working capital requirements across the US, Kenya, and India. The company also commissioned a 70 KTPA Pharma Salt plant in the UK, with higher sales and production volumes of Soda Ash, Bicarb, and Salt compared to Q3FY24.

On a standalone basis, Tata Chemicals' revenue from operations reached Rs. 1,166 crore, marking a 7 percent increase from Q3FY24. EBITDA stood at Rs. 209 crore, reflecting a 1 percent rise, while PAT from continuing operations stood at Rs. 72 crore, showing a 37 percent decline from Q3FY24. The company also confirmed that FOS sales remain on track, leading to full capacity utilization.

Parisian fashion house Maje, known for its effortlessly chic and contemporary designs, has officially entered the Indian market with the launch of its first flagship store in Mumbai's Jio World Drive. This milestone marks the beginning of an exciting partnership between Maje and Reliance Brands Limited (RBL), bringing the brand’s signature blend of accessible luxury and bold creativity to India.

Founded in 1998 by Judith Milgrom, Maje has built a strong reputation for its versatile, sensual, and modern Parisian aesthetic, catering to women who seek style that seamlessly transitions between day and night. The brand's arrival in India offers fashion enthusiasts a curated opportunity to experience the finest of French fashion, blending elegance with contemporary trends.

Milgrom, deeply influenced by her Moroccan roots and Parisian upbringing, has always envisioned Maje as a brand that allows women to live multiple lives in a single day. Her personal touch is reflected even in the brand’s name, which symbolizes sibling unity—M for Moyal (her maiden name), A for Alain (her brother and co-founder), J for Judith (her first name), and E for Evelyne (her sister with whom she worked for over a decade).

“We are incredibly excited to introduce Maje to the vibrant and diverse Indian market. India’s rich cultural heritage, coupled with its dynamic blend of tradition and modernity, is truly inspiring. This store represents our opportunity to connect with the Indian audience, where fashion is not just a style statement but a way to express individuality. We look forward to celebrating the spirit of India and offering women here the Maje experience,” shared Judith Milgrom, Founder, Maje.

Maje’s flagship store in Mumbai reflects the brand’s signature store architecture, offering a personal and inviting space that feels almost like a second home. Designed to be more than just a retail outlet, it serves as a showcase for Maje’s ready-to-wear collections and accessories, embodying the brand’s bold and offbeat spirit.

To celebrate the grand opening, the Maje flagship store will feature an exclusive selection of the brand’s most iconic pieces, including highlights from the Spring-Summer 2025 collection, “Glam Office – From Paris to Milan." This collection redefines modern women’s wardrobes with a touch of Italian elegance, featuring structured tailoring, fluid dresses, and sophisticated silhouettes, perfect for transitioning seamlessly from office wear to evening ensembles.

With this debut, Maje is set to make a lasting impact in India’s dynamic fashion landscape, offering a unique blend of Parisian elegance and contemporary versatility to fashion-forward women across the country.

Quest Retail, a major player in India’s retail and beauty industry, has appointed Rahul Shanker as Group CEO while elevating Shriti Malhotra to Executive Chairperson. This leadership transition comes as the company focuses on expanding its market presence and strengthening its omnichannel strategy.  

Rahul Shanker will oversee the operations of Quest Retail’s portfolio, which includes The Body Shop, Kiehl’s, Avon, Kylie Cosmetics, Anastasia Beverly Hills, Max Factor, Boddess, The Honest Tree, and other brands under the group.  

Shriti Malhotra, after serving as Group CEO, moves into the role of Executive Chairperson. During her tenure, she played a key role in shaping Quest Retail’s position in India’s beauty market by expanding the brand portfolio and introducing new retail concepts. In her new role, she will focus on the company’s long-term strategy, working closely with the Board of Directors.  

With nearly three decades of experience in India’s retail sector, Shriti has been instrumental in the growth of brands such as Benetton, Nike, and Puma. She played a significant role in launching The Body Shop in India 19 years ago, leading its expansion and customer engagement strategies.  

Shriti Malhotra said, “A company’s true strength lies in the passion of its people, and it has been my privilege to lead Quest Retail to where it stands today. Rahul’s depth of experience in consumer businesses and his transformational leadership make him the ideal person to drive the company’s next chapter. His appointment is crucial for enhancing our omnichannel capabilities and continuing to solidify our position in the market.”  

Rahul Shanker brings 27 years of experience from global organizations, including PepsiCo, Wrigley-Mars, Philips, Avon, and Modicare. His expertise spans multiple consumer categories, including FMCG, personal care, and health & wellness. As Group CEO, he will focus on scaling operations, improving efficiency, and enhancing customer experience.  

Rahul Shanker stated, “I am thrilled to join Quest Retail at such an exciting time. The company has established a robust portfolio and a powerful omnichannel ecosystem that positions it uniquely for growth. My focus will be on scaling our operations, innovating the customer journey, and identifying new opportunities to further accelerate our success. I look forward to collaborating with our exceptional team and stakeholders to take Quest Retail to new heights.”  

The leadership changes reflect Quest Retail’s focus on strengthening its position in India’s beauty and retail industry while driving its next phase of growth.

Tata Consumer Products (TCP), a key player in India's retail and consumer goods sector, has appointed Rajesh Gopal as its Global Chief Digital Officer. This move aligns with the company’s strategy to enhance its digital transformation efforts.  

Rajesh Gopal brings over 22 years of experience in digital strategy and large-scale technology transformation. Before joining TCP, he served as Regional Chief Information Officer – APAC and GCC Head at Kimberly-Clark. His previous roles include leadership positions in digital functions at ITC Limited, L'Oréal, and Unilever.  

Sunil D’Souza, Managing Director and CEO of Tata Consumer Products said, “We are happy to welcome Rajesh to Tata Consumer Products. I am confident his leadership will further propel our digital agenda in line with our growth and transformation journey towards becoming a premier global FMCG company.”  

The company also acknowledged the contributions of Swaminathan TV, who played a key role in driving TCP’s digital transformation. “We would like to thank Swaminathan TV for his leadership in establishing and driving the Digital Transformation agenda for Tata Consumer Products. During his tenure, Tata Consumer Products achieved several milestones, unlocking the power of digital across the value chain. We are delighted that he has been identified for a move within the Tata Group to lead a new business within Tata Motors and wish him the very best,” D’Souza added.  

This leadership change reflects TCP’s continued focus on leveraging digital capabilities to strengthen its position in the retail and consumer goods industry in India and beyond.

Curefoods, a Bangalore-based food and beverage company, has announced the repositioning of its flagship brand EatFit under the new identity ‘Kitchens of EatFit.’ The revamped platform will now house eight distinct brands aimed at delivering high-quality, nutritious, and authentic food. These brands include EatFit (EF), HRX by EatFit, Great Indian Khichdi (GIK), Homeplate, Chaat Street, Rolls on Wheels, Millet Express, and Madras Curd Rice Company. This shift highlights Curefoods’ strategy to strengthen its retail presence in the growing food industry in India.

The move to ‘Kitchens of EatFit’ aligns with Curefoods’ commitment to providing nutritious, safe, and authentic meals. The company focuses on Zero Chemicals, Zero Trans Fat, and ISO-Certified Kitchens, setting a clear standard in the market for food safety and quality. The revamped platform aims to create a trusted brand identity synonymous with the highest food safety and nutritional standards.

Ankit Nagori, Founder of Curefoods said, “’Kitchens of EatFit’ represents our unwavering commitment to quality, safety, and authenticity in every meal we serve. This transition is a promise to our customers to uphold the highest standards in food safety and nutrition. With Hrithik Roshan as our brand ambassador and investor, we are set to redefine the future of food, inspiring trust and innovation across the industry.”

Hrithik Roshan’s association with the brand strengthens its position in the market. A well-known fitness icon and advocate of healthy living, Roshan’s involvement as both an investor and brand ambassador aligns with ‘Kitchens of EatFit’s mission. His credibility in the fitness sector and passion for healthy living complement the brand’s focus on clean and nutritious food.

Roshan added, “As someone passionate about fitness and mindful eating, ‘Kitchens of EatFit’ is a natural extension of my values. This partnership is a shared vision to make clean, nutritious, and delicious food accessible to everyone. I’m proud to be part of this journey, as both an ambassador and an investor, and I’m confident that Kitchens of EatFit will set new benchmarks in the food industry.”

With its new identity, ‘Kitchens of EatFit’ plans to scale operations in over 10 cities across India, ensuring that its core values of quality, safety, and authenticity are upheld at every touchpoint.

Chinese fast-fashion giant Shein has officially made its return to the Indian market after nearly five years, with the launch of a dedicated mobile app. The app, developed and managed by Reliance Retail, is now available for download on both the Google Play Store and Apple’s App Store.

The Shein app currently offers deliveries to cities such as Delhi NCR, Bengaluru, Mumbai, Navi Mumbai, and Thane, with nationwide shipping expected to be available soon, according to the app.

Shein, which is based in Singapore and manufactures in China, was forced to exit the Indian market following the 2020 border stand-off between India and China. During that time, the Ministry of Electronics and Information Technology (MeitY) banned Shein along with over 50 other apps, including TikTok, due to concerns over data security.

In 2023, almost three years after the ban, Shein formed a licensing agreement with Reliance Retail. Under this agreement, Reliance Retail Ventures Ltd, through its fully-owned subsidiary, now has full ownership and control over the platform in India.

Originally founded in Nanjing, China, in 2008 by entrepreneur Chris Xu under the name ZZKKO, Shein expanded its offerings in 2011 to include women’s clothing, cosmetics, and accessories. The company rebranded as SheInside before settling on its current name, Shein, in 2015. Now headquartered in Singapore, Shein operates in over 150 countries around the world.

The move by Reliance Retail to partner with Shein signifies a broader trend of global retail giants looking to tap into the rapidly growing Indian fashion market. With Shein now available on mobile devices, it gives consumers an easy and convenient way to shop for the latest trends, ensuring a seamless and engaging online shopping experience.

As the partnership unfolds, Shein’s return to India will be closely watched, not just for its potential to reshape the online fashion landscape, but also for the impact it could have on the future of international e-commerce in the country.

Timex Group India Ltd (TGIL), a key player in India's watch retail market and part of the global Timex Group, has reported significant financial growth for the third quarter of fiscal year 2025. The company achieved a total income of Rs 120 crore, reflecting a 27 percent quarter-on-quarter increase. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 4.6 crore, while Profit Before Tax (PBT) reached Rs 2.6 crore. New product launches, expansion of distribution channels, and strong demand in the luxury and fashion segments drove this growth.

Traditional trade emerged as the highest revenue contributor, recording a 30 percent increase. E-commerce continued its growth momentum, while the defense sector also showed notable progress, highlighting Timex Group India's diverse market reach.

Among its brands, the core Timex brand saw a 36 percent rise in sales, while Guess recorded 17 percent growth. In the luxury segment, Philipp Plein posted an 82 percent increase in Q3, reinforcing the company’s presence in high-end watch retail in India.

Financial Performance for YTD FY25

• Total income: Rs 403.7 crore, reflecting 23 percent growth
• PBT: Increased by 62 percent
• EBITDA: Grew by 44 percent

Channel and Brand Performance

• E-commerce: 31 percent growth
• Traditional trade: 22 percent growth
• Timex brand: 22 percent increase
• Versace: 37 percent growth
• Guess: 29 percent growth
• Philipp Plein: 337 percent growth

Deepak Chhabra, Managing Director of Timex Group India Ltd said, “We are excited to share yet another successful quarter performance, which is a result of our continuous focus on delivering exceptional craftsmanship and tapping into emerging market opportunities in the premium segment. The outstanding performances of our flagship Timex brand coupled with fashion and luxury segments, inspire us to keep innovating and expanding our reach to meet India’s growing appetite for premium timepieces.”

During the quarter, the company launched a 170th-anniversary limited-edition $1 watch, highlighting Timex’s heritage in watchmaking. Collaborations with global brands and designers such as Fortnite, James Brand, and Jacquie Aiche also contributed to brand visibility in India. Additionally, the festive season saw strong demand for premium collections, including the Timex Fria Peekaboo range.

Looking ahead, Timex Group India plans to expand further into airport retail, introduce premium brands, and diversify into new categories such as Guess Jewellery. The company also launched the Giorgio Galli S2Ti limited-edition watch, designed by Timex’s Milan-based Creative Director, Giorgio Galli. Limited to 500 pieces, the watch represents the latest evolution in the brand’s minimalist and durable design philosophy.

With an increased focus on digital enhancements, Timex Group India aims to strengthen its position in India’s evolving watch retail market.

Toni&Guy, the globally recognized British salon brand, is strengthening its foothold in India with the launch of multiple new salons across key cities. This expansion underscores the brand’s dedication to delivering world-class hair and beauty services while reaching a wider audience across the country.

In a significant milestone, Toni&Guy recently unveiled its latest outlet in Ahmedabad, marking a new chapter in its Indian growth story. The brand is set to open additional salons in prominent locations such as Haldwani, Srinagar, Mohali, Lucknow, Patna, Bareilly, and Noida by the end of the year. These new additions will increase the brand’s total salon count in India to 10.

Raghav Bhambri, Co-Owner, Toni&Guy North & West India expressed, “We are thrilled to expand Toni&Guy’s presence across India. Our focus has always been on bringing premium, cutting-edge hair and beauty services to our clients, and these new salons will allow us to do just that. Each location takes us one step closer to offering world-class salon experiences to people in more parts of the country.”

The newly launched salons will offer Toni&Guy’s signature services, including professional haircuts, advanced styling, innovative hair treatments, makeup, and beauty services. Designed to uphold the brand’s luxurious standards, each salon is staffed by highly skilled professionals who provide personalized consultations and top-tier results.

As part of this expansion, Toni&Guy will introduce its exclusive range of Label.M hair care products, designed to complement salon treatments and enable customers to achieve salon-quality results at home.

Renowned for its high-end services, Toni&Guy has established a strong reputation in India by offering tailored haircuts, expert coloring, and customized treatments that align with the latest trends while catering to individual client needs. The salons also provide a sophisticated, relaxing environment where clients can enjoy a comprehensive beauty experience.

With over 150 salons nationwide, Toni&Guy remains a leading choice for luxury hair and beauty services in India. The upcoming openings signal a new era of growth, bringing premium salon experiences to a broader clientele and further solidifying the brand’s position in the Indian market.

The Union Budget 2025-26, announced earlier today, includes several measures aimed at addressing economic challenges while maintaining a long-term vision for growth. Commenting on the proposals, Harsha Vardhan Agarwal, President of FICCI, stated, “Through the Budget the government has made a strong effort to address the immediate challenges being faced by the economy, particularly on the consumption front, while keeping an eye on the long-term target of pursuing the vision of ‘Viksit Bharat’. FICCI would like to compliment the Finance Minister for a comprehensive, inclusive, and forward-looking budget that encompasses a heavy dose of reforms, fiscal stimulus, and a clear focus on the farm sector, MSMEs, youth, and women of the country.”

He further added, “The Budget proposals will re-energize the economy by lifting the sentiments of the middle class and nudging the private sector to advance its investment plans as demand improves across sectors.”

The Budget was presented amid slowing economic growth, with FICCI having urged the government to implement measures that would boost both consumption and investment. The revisions in the personal income tax structure are expected to enhance disposable income, thereby stimulating consumption. Additionally, while the increase in government capital expenditure is more modest than in previous years, it remains a positive development.

A significant emphasis was placed on the agriculture sector, with the government announcing a targeted program covering 100 districts with low productivity, moderate crop intensity, and below-average credit parameters. FICCI had previously recommended an agricultural yields mission for the bottom 100 districts, similar to the aspirational districts program, and noted its inclusion in the budget. The launch of a National Mission on High Yielding Seeds is also expected to support climate resilience in agriculture. Furthermore, the six-year mission focused on improving pulse yields aims to address inflationary pressures on this essential food category. The private sector is prepared to collaborate with the government on these initiatives.

The MSME sector received particular attention in the budget. The revision of classification criteria and the doubling of credit limits with guarantee cover are expected to support growth in this critical segment. Additional measures for labor-intensive industries such as footwear, leather, food processing, and toys—all largely driven by MSMEs—are anticipated to enhance employment opportunities, especially in tier ll and tier lll cities.

On the infrastructure front, the budget introduced a Maritime Development Fund to boost the marine economy, particularly in coastal states, fostering trade and blue economy-related industries. The plan to connect 120 new destinations under the UDAN scheme is also expected to create economic opportunities by integrating emerging regions into the national growth framework.

In support of Make in India for the World, the budget introduced several measures to promote exports. The launch of Bharat Trade Net, a digital public infrastructure platform, aims to streamline trade documentation and financing solutions for merchants and exporters. This initiative is expected to improve efficiency, reduce costs, and enhance the ease of doing business by unifying multiple touchpoints in the export process.

The budget also includes steps to strengthen India’s skilling ecosystem. Expanding capacities in premier technical institutions like IITs, increasing medical education seats, establishing 50,000 Atal Tinkering Labs, and setting up a new Centre of Excellence for AI education are designed to enhance workforce readiness in emerging technologies. These efforts will position India as a key global provider of skilled talent.

Additionally, FICCI welcomed the introduction of a revamped Central KYC registry, the new Income Tax Bill, Jan Vishwas Bill 2.0, regulatory reforms, and a reduction in the number of customs tariff rates. These measures are expected to improve the ease of doing business and reinforce the government’s objective of ‘Minimum Government, Maximum Governance’.

Air conditioning maker and engineering services provider Voltas Ltd has reported a consolidated net profit of Rs 130.76 crore for the third quarter ended December 2024.

It had posted a consolidated net loss of Rs 27.60 crore in the October-December period a year ago.

Voltas’ revenue rose 17.9 percent to Rs 3,164.16 crore in the December quarter. It was Rs 2,683.61 crore in the year-ago period.

Its total expenses increased 12 percent to Rs 2,941.11 crore in the quarter.

The company also announced top-level management changes as its Managing Director and CEO Pradeep Bakshi will step down in the second half of 2025.

He has expressed his desire not to seek reappointment upon completion of his current term on August 31, 2025. Respecting his decision, the Board has accepted his request.

FMCG major Nestle India Ltd has reported a 4.94 percent increase in net profit at Rs 688.01 crore for the quarter that ended December 31, 2024.

The company had posted a net profit of Rs 655.61 crore in the October-December period a year ago.

Nestle India’s revenue from the sale of products was up 3.89 percent to Rs 4,762.13 crore in the December quarter. It was at Rs 4,583.63 crore in the corresponding period of the last fiscal year.

Its total expenses in the December quarter were up 6.18 percent to Rs 3,861.91 crore.

Nestle India’s domestic sales were up 3.23 percent to Rs 4,566.05 crore in the quarter under review, as against Rs 4,421.79 crore in the corresponding period of October-December.

Its revenue from exports was up 21.15 percent to Rs 196.08 crore in the December quarter.

Nestle India’s revenue from operations, which includes other operating revenue, was at Rs 4,779.73 crore, up 3.89 percent. It was at 4,600.42 crore in the previous December quarter.

Total Income Nestle India, which owns popular brands such as Maggi, Nescafe, and Kit Kat was at Rs 4,784.17 crore, up 3.31 percent.

Parag Milk Foods Ltd. has posted a 5.59 percent increase in consolidated net profit at Rs 36.07 crore for the third quarter of 2024-25 on higher sales.

The company had logged a net profit of Rs 34.16 crore in the year-ago period.

Total income rose to Rs 890.75 crore from Rs 806.69 crore in the year-ago period. Expenses remained higher at Rs 853.09 crore as against Rs 773.93 crore.

Devendra Shah, Chairman of Parag Milk Foods said, “Our highest-ever delivery in Q3 leveraging strong festive demand is a testimonial to the increasing preference for premium dairy offerings and our ability to meet evolving consumer needs.”

The company is focused on strengthening the supply chain, expanding reach through new-age distribution channels, and driving product innovation to offer superior nutrition solutions.

 Air-condition and commercial refrigeration system maker Blue Star Ltd. has reported an increase of 31.85 percent in consolidated net profit at Rs 96.06 crore in the third quarter ended December 2024.

The company had posted a net profit of Rs 100.46 crore in the October-December quarter a year ago, according to a regulatory filing from Blue Star Ltd.

Its revenue from operations was up 25.26 percent to Rs 2,807.36 crore in the December quarter. It was at Rs 2,241.19 crore in the year-ago period.

“The room AC business continued its strong upward trajectory during the quarter. Fuelled by a strong festive season demand, the room AC segment was an outlier amongst all consumer durables,” said an earnings statement from Blue Star.

Other key businesses also showed robust growth, driven by demand from several sectors.

“The increase in revenue and profit can be attributed to the company’s continued investments in expanding distribution channels, innovation, R&D, digital transformation, and strategic supply chain planning,” it said.

Blue Star’s total expenses increased 24.97 percent to Rs 2,648.89 crore in the December quarter.

Revenue from the electro-mechanical projects and commercial air-conditioning systems segment was at Rs 1,562.41 crore in the reporting quarter, up 32 percent year on year.

Its revenue from unitary products, under which its room AC business comes, registered a 21.9 percent rise at Rs 1,164.36 crore in the quarter under review.

However, its revenue from professional electronics and industrial systems business revenue was down 22.1 percent to Rs 80.6 crore.

Total income, which includes other income, was at Rs 2,816.09 crore, up 24.94 percent year on year.

The Tivoli Hotel, Chattarpur, Delhi’s newest five-star luxury property, marked its one-month anniversary with a grand celebration, unveiling the Lafayette | Sonani Diamond Jewellery Boutique within its premises. This milestone reinforces the hotel’s commitment to providing unparalleled luxury experiences and enhances its ever-expanding luxury ecosystem, offering guests an exceptional retail experience alongside world-class hospitality.

The launch of Lafayette | Sonani adds a new dimension to The Tivoli Hotel’s offerings, blending high-end retail with refined accommodations and curated experiences. It allows discerning guests, wedding families, and luxury shoppers direct access to exquisite jewelry collections, elevating the hotel's already luxurious atmosphere.

"The Tivoli is not just a five-star hotel—it is a destination where hospitality meets luxury at every level. With Lafayette | Sonani, we have elevated our offering, allowing wedding families and high-profile guests to indulge in world-class jewelry shopping within the comfort of our hotel. This addition aligns perfectly with our vision of providing a holistic luxury experience, ensuring that every guest enjoys the finest amenities, from grand banquet spaces to curated retail experiences,” shared Akshay R. Gupta, Executive Director, Tivoli Hotels.

The unveiling of the boutique was celebrated with an exclusive evening attended by hospitality leaders, socialites, and luxury connoisseurs. Guests had the chance to preview the boutique’s Mon Chéri collection, a stunning line of Parisian-inspired diamond jewelry tailored to suit Indian tastes.

In celebration of the launch, The Tivoli Hotel’s Executive Chef, Sanjay Kumar, curated a bespoke flying buffet that blended global flavors with evolving trends in luxury wedding cuisine.

"We wanted to showcase a blend of contemporary and traditional elements, with flavors that speak to both the Indian palate and international tastes. For this occasion, we introduced fusion dishes inspired by global cuisine, ensuring a unique culinary experience that complemented the opulence of the event,” stated Chef Kumar.

With this latest addition, The Tivoli Hotel continues to redefine luxury hospitality by offering not only top-tier accommodations but also an integrated lifestyle experience. The hotel now caters to the modern luxury traveler who values convenience, exclusivity, and premium experiences—all under one roof.

"Today’s luxury guests seek more than just a stay—they seek experiences that complement their lifestyle. By bringing fine jewelry retail into our premises, we are elevating guest convenience while maintaining the exclusivity The Tivoli is known for," added Akshay R. Gupta, Executive Director, Tivoli Hotels.

This strategic launch cements The Tivoli Hotel’s position as a leading innovator in the luxury hospitality sector, ensuring that guests have access to the finest in accommodation, events, dining, and shopping, all within its luxurious setting.

H&M Group reported net sales of SEK 234,478 million in the financial year 2024, reflecting a 1 percent increase in local currencies compared to the previous year’s SEK 236,035 million. The company’s gross profit rose by 4 percent to SEK 125,299 million, with a gross margin of 53.4 percent, up from 51.2 percent in the previous year. Selling and administrative expenses increased slightly to SEK 107,915 million.  

Operating profit reached SEK 17,306 million, up from SEK 14,537 million, with an operating margin of 7.4 percent. Excluding investments in associated companies and joint ventures, operating profit grew by 28 percent year-on-year. The company’s result after tax increased by 33 percent to SEK 11,584 million, with earnings per share at SEK 7.21. Cash flow from operating activities before changes in working capital rose by 26 percent to SEK 36,745 million, while total cash and cash equivalents, along with undrawn credit facilities, stood at SEK 35,756 million. The company allocated SEK 236 million to the H&M Incentive Program (HIP) for employees.  

Daniel Ervér, CEO of H&M Group stated, “After one year as CEO, I’m confident that we are on the right track. We have set a clear direction focusing fully on our core business: improving what makes the biggest difference for the customer and removing what doesn’t. We are proud of the progress we have made to further strengthen our products, shopping experience, and brand building.”  

H&M’s retail operations in India and other key markets saw a 3 percent sales increase in local currencies in Q4 compared to the previous year. The company’s Autumn collection was launched in major fashion hubs, including Milan, London, and New York, contributing to improved sales performance. Online sales, better product presentation, and cost control measures played a role in the quarter’s positive results.  

The company continued refining its supply chain to enhance flexibility and product availability, with a focus on strengthening supplier partnerships and improving demand forecasting. H&M also opened 88 new stores during the year, bringing its total store count to over 4,200. Store portfolio optimization remains a priority, alongside ongoing digital expansion efforts.  

H&M took further steps in sustainability, aiming to cut greenhouse gas emissions by 56 percent by 2030. Preliminary data shows a reduction of at least 23 percent in scope 3 emissions compared to 2019. Sustainability measures, including supply chain decarbonization and efficiency improvements, remain key areas of focus.

Looking ahead to 2025, the company plans to strengthen its retail operations by refining product creation processes, integrating online and offline channels, and maintaining investment levels in stores and the supply chain. “While continued challenging macroeconomic conditions and geopolitical uncertainty may impact consumer sentiment during 2025, we see some positive signs such as inflation and interest rates going down,” Ervér said.  

With a strategy focused on organic growth, operational efficiency, and sustainability, H&M aims to drive long-term profitability while reinforcing its presence in global retail markets, including India.

Kalyan Jewellers India Limited reported consolidated revenue of Rs 7,287 crore in Q3 FY25, reflecting a 40 percent increase compared to Rs 5,223 crore in the same period last year. The company’s consolidated profit after tax (PAT) for the quarter was Rs 219 crore, up from Rs 180 crore in the previous year. Adjusting for the impact of customs duty reduction announced in the Union Budget of July 2024, the consolidated PAT growth would be 44 percent.  

The company’s India operations recorded standalone revenue of Rs 6,393 crore in Q3 FY25, a 42 percent rise from Rs 4,512 crore in the corresponding quarter of the previous year. The PAT from India operations stood at Rs 218 crore, compared to Rs 168 crore in Q3 FY24. After adjusting for customs duty loss, the PAT growth would be 54 percent.  

In the Middle East, the company generated revenue of Rs 840 crore in Q3 FY25, marking a 23 percent increase from Rs 683 crore in the same period last year. PAT for the region was Rs 15 crore, slightly up from Rs 14 crore in Q3 FY24. Pre-tax profit (PBT) in the Middle East grew by 23 percent year-on-year, though PAT growth was impacted by the introduction of a new corporate tax in the UAE.  

The e-commerce division, Candere, reported revenue of Rs 55 crore in Q3 FY25, up from Rs 29 crore in the previous year. However, the segment recorded a loss of Rs 6.9 crore in Q3 FY25, compared to a Rs 1.6 crore loss in Q3 FY24.  

Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers India Limited stated, “We are extremely excited with the way the current year has progressed. The current quarter has started off well despite the volatility in gold prices. We are upbeat about the ongoing wedding season and expect to end the financial year on a strong note. We are on track for the launch of 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter.”

KRBL has introduced a refreshed packaging design for its flagship 'India Gate' basmati rice brand, marking a significant update after 25 years. This initiative is part of the company's strategic goal to increase its market share in the branded basmati rice segment from 42 percent to 60 percent within the next 3-5 years.

Currently holding a dominant position with 42 percent of the branded basmati rice market, KRBL aims to expand its footprint significantly. "We have 42 percent market share at present and aim to reach 60 percent in the next 3-5 years," said Ayush Gupta, Business Head at KRBL.

To help achieve this ambitious target, KRBL collaborated with Landor Associates, a renowned brand consulting and design firm, to revamp the product's packaging. The new design features an updated logo, detailed information about the rice’s grain length and usage for different types of dishes, as well as a QR code for further engagement.

The branded basmati rice market in India is largely controlled by just two players: India Gate and Daawat (LT Foods), which together hold a 60 percent share. To reach its target, KRBL plans to challenge regional brands, convert consumers from loose rice to packaged varieties, and expand the overall rice category.

KRBL also offers black and brown rice as part of its health-focused product range, though this niche segment requires time for further growth.

The marketing campaign, which has allocated 20 percent of the budget towards this initiative, features a blend of traditional and digital strategies, including anamorphic displays at iconic landmarks, immersive AI-powered robots in retail stores, and a strong presence across various digital platforms. "We didn’t just unveil packaging; we redefined how brands engage with their audiences," said Sharma. The campaign also includes activations at more than 200 sites across 14 cities, digital roadblocks on platforms like BookMyShow, Meta, YouTube, and OTT, and partnerships with quick-commerce platforms such as Swiggy Instamart, Zepto, and BlinkIT.

FMCG giant Emami anticipates it will take a few quarters to revive its ayurvedic hair care brand Kesh King, following the formulation of a "robust strategy" by consultancy firm BCG. The Kesh King product line experienced a decline of 10 percent in the third quarter and 12 percent in the first nine months of the current financial year due to competitive pressures and challenges within the category. Emami enlisted BCG to assess and help rejuvenate the brand. 

“Kesh King is being evaluated by BCG. Let them come up with a robust strategy. Once they come up with that, and we start implementing it, I am sure the brand should revive. It is not too far. I think it will take another one or two quarters, but then surely we will come with a bang,” shared Mohan Goenka, Vice Chairman and Whole-time Director, Emami Ltd.

“Definitely a category issue is there in the oil we are seeing. It is not just the Kesh King...but we cannot wait for markets. Of course, the market is one thing. If they revive, we will get extra benefits, but whatever changes need to be done, or for the brand opportunities in shampoo and other hair care, there are multiple opportunities that have been identified. So, a lot of work is going on,” Goenka added further.

In another move to refresh its portfolio, Emami announced the rebranding of its flagship male grooming brand, previously known as “Fair and Handsome,” to “Smart And Handsome.” This change is aimed at aligning with evolving consumer preferences for "redefining fairness" and tapping into the rapidly growing market. The Rs. 250-crore brand, which holds a market leadership position of around 65 percent in India’s male grooming sector, is expected to contribute to Emami's goal of growing the brand to approximately Rs. 1,000 crore over the next three to four years, with new product rollouts.

For the third quarter of the current fiscal year, Emami reported a 7 percent year-on-year increase in consolidated net profit, reaching Rs. 278.98 crore, compared to Rs. 260.65 crore in the same period last year. The company’s revenue also grew by 5.33 percent year-on-year to Rs. 1,049.48 crore, up from Rs. 996.32 crore in the third quarter of FY24.

Lenskart, one of India’s leading eyewear brands, has unveiled Phonic, a groundbreaking innovation that seamlessly combines premium audio technology with stylish eyewear. Designed for today’s multitasking generation, Phonic allows users to take calls, listen to music, and interact with digital assistants without the need for additional devices. With this launch, Lenskart reinforces its commitment to delivering world-class technology at an accessible price point.

Phonic stands out as a fusion of cutting-edge Bluetooth audio and everyday eyewear, offering a hands-free experience that integrates seamlessly into users’ daily routines. Equipped with up to seven hours of battery life, it ensures uninterrupted access to calls, music, and voice assistance, making it a perfect companion for professionals, frequent drivers, and commuters. The smart eyewear also features intuitive voice assistance, allowing users to send messages, set reminders, and control music through simple voice commands. Designed for flexibility, Phonic frames can be customized with prescription lenses or sunglasses, making them suitable for both work and leisure. Additionally, smart button navigation enables effortless switching between functions with a single click, keeping users focused on what matters most.

Peyush Bansal, CEO and Founder, Lenskart shared, “At Lenskart, we design products that address real consumer needs. Phonic is for everyone who juggles multiple roles daily—whether it’s professionals in noisy offices, frequent drivers, or commuters who need hands-free convenience. Phonic empowers users to stay connected, productive, and stylish, without adding complexity to their lives.”

Priced at Rs. 4,000, Phonic offers an affordable entry point into the world of smart audio-enabled eyewear. Available in two bold designs—Navigator and Hustlr—it comes in Shiny Blue and Matte Black finishes, with customization options for prescription lenses or sunglasses. Phonic is now available for purchase online and at select Lenskart stores across India, ushering in a new era of convenient, stylish, and technology-driven eyewear.

De Beers Group is set to expand its retail footprint in India through its subsidiary, Forevermark, with plans to open 15 new stores across Delhi and Mumbai this year.

Following an internal restructuring, Forevermark has transitioned from supplying loose diamonds to establishing itself as a jewelry brand in India. As part of this expansion, eight new stores are scheduled to open in New Delhi, with the first launch set for June.

“We plan to strengthen our retail by expanding Forevermark to 15 stores in 2025, and eventually growing to $100 million in revenue from 100 stores by 2030,” said Amit Pratihari, Managing Director at De Beers India, during a media briefing.

The expansion strategy includes a combination of company-operated outlets and franchise partnerships.

Commenting on the Indian gems and jewelry industry, Pratihari highlighted that the market, currently valued at $85 billion, is projected to reach between $120 billion and $140 billion by 2030. “Natural diamonds will make up more than 10 percent of this market and will be valued at $17 billion by 2030,” he stated.

India ranks as the world’s second-largest diamond market after the U.S., holding a 10 percent share of the overall gems and jewelry segment.

The country's organized jewelry retail space is witnessing increased activity, with new entrants such as the Aditya Birla Group launching its brand Indriya and established players like Bluestone exploring IPO opportunities.

Despite the rise of the lab-grown diamond industry, Pratihari asserted that it does not pose a threat to the natural diamond market.

As the brand moves ahead with its ambitious growth plans, Forevermark is poised to capture the attention of India’s discerning consumers who seek premium, ethically sourced diamond jewelry. The upcoming stores in Delhi and Mumbai are just the beginning of what promises to be an exciting journey for the brand in India.

Good Glamm Group, the Mumbai-based beauty and personal care firm, has faced another challenge as representatives from major investment firms Accel, Prosus Ventures, and Bessemer Venture Partners resigned from its board.

Anand Daniel, partner at Accel; Vishal Gupta, partner at Bessemer; and Gaurav Kothari, principal at Prosus Ventures, all stepped down as independent directors in December, according to filings made by Good Glamm Group with the Ministry of Corporate Affairs.

These resignations come amid ongoing financial struggles for the company, which has been dealing with a cash crunch, salary delays, and layoffs. During a town hall on January 2, the management informed staff about deferred salaries and job cuts. This followed a round of layoffs in 2024, where the company reduced its workforce by 15 percent, affecting around 150 employees across various departments, including technology and products.

The company’s leadership had earlier explained that salary delays were due to a funding round not going as planned.

A spokesperson for Good Glamm Group, which owns brands such as MyGlamm, The Moms Co, and Sirona, commented, "Good Glamm received term sheets for a new round of fundraising in December and is currently in the last stages of closing the same. We will not be making any comments until after the close of our fundraiser."

In March 2024, Good Glamm Group raised $30 million at a flat valuation from its existing investors, including Warburg Pincus, Prosus Ventures, Bessemer, and Accel. The funds were intended to meet working capital needs and prepare for a larger fundraising round, which has yet to materialize.

The company is reportedly exploring several fundraising options, such as bringing in a strategic investor and potentially divesting some of its brands.

The news about the three directors resigning was first reported by The Morning Context.

Good Glamm Group recently completed its acquisitions of The Moms Co, a direct-to-consumer baby care startup, and Sirona, a feminine hygiene brand, by making the final tranche of payments and resolving legal disputes with the investors of these brands. Last year, the founders of Sirona Hygiene and The Moms Co, along with investors from the Indian Angel Network (IAN), issued default notices to Good Glamm Group for failing to honor final payments according to the original agreements. Good Glamm Group had also initiated arbitration proceedings against IAN, but these matters have now been resolved.

In the past year, Good Glamm Group has witnessed several high-profile exits, including Sukhleen Aneja, CEO of The Good Brands—the company’s D2C vertical—who left in May 2024 to join Nykaa. Prior to that, co-founder Priyanka Gill moved to Kalaari Capital as a venture partner. Other senior executives, including former CFO Piyush Kalra, have also exited in recent times.

Co-founder Naiyya Saggi, who is not involved in the daily operations of Good Glamm Group, is also reportedly planning to launch a new consumer startup in the electronics space.

Quick commerce company Zepto has successfully completed a reverse flip from Singapore to India, transitioning to an Indian parent entity in preparation for its upcoming IPO.

Aadit Palicha, Zepto's co-founder and CEO, celebrated the move as a historic milestone for the Indian startup ecosystem, highlighting its significance as an inflection point that demonstrates long-term confidence in the depth and liquidity of Indian capital markets.

“Today, we received formal approval from Singaporean courts and the NCLT in India to complete our cross-border merger and become an Indian parent entity. We executed this project in true Zepto fashion: challenging the status quo, cutting internal red tape ruthlessly, and having deep control over the details. At Zepto, we have a habit of delivering what people say is impossible,” explained Palicha.

He further emphasized that the Indian ecosystem is now growing in favor of Indian shareholders. 

This strategic move to bring Zepto’s parent company domicile to India holds particular importance as the company prepares for its IPO.

Zepto’s CFO, Ramesh Bafna, also took to LinkedIn to announce the completion of the reverse merger, bringing the domicile of Zepto’s parent company, Kiranakart Pte Ltd, to India. Bafna highlighted the move as a valuable #GharWapasi template for the startup ecosystem, which could help create a strong pipeline for future capital market access.

“Historic scenes on completion of #IndiaFirst reverse merger from Singapore to India in the #FastestEver timeline,” Bafna wrote in his post.

He praised the entire team involved in the process, stressing the importance of understanding technicalities, working with the right partners, focusing on execution, and overcoming natural delays with tactical real-time decisions. Bafna also credited Palicha for prioritizing clarity and empowering the team throughout the process.

“This is a good #GharWapasi template for the startup ecosystem and overtime enables a great pipeline towards capital markets,” Bafna reiterated.

Earlier, the National Company Law Tribunal (NCLT) approved the merger of Kiranakart Pte Ltd, based in Singapore, with Kiranakart Technologies Ltd, successfully shifting the domicile of Zepto’s holding company to India.

In the financial year 2024, Zepto reported a revenue of Rs 4,454 crore, more than double the Rs 2,025 crore achieved in the previous fiscal year. The company also managed to reduce its losses slightly to Rs 1,248.6 crore for FY24, compared to Rs 1,272.4 crore in FY23, according to data from Tofler.

Apparel Group has announced the opening of its second Victoria’s Secret store in Bengaluru at Nexus Koramangala Mall. This new store marks the 12th Victoria’s Secret location in India, furthering the brand’s dedication to strengthening its presence in key metropolitan areas and enhancing its connection with customers across the country.

Bengaluru, known as India’s "Silicon Valley," blends a rich cultural heritage with a modern cosmopolitan vibe. Its diverse, global-minded population and appreciation for premium brands make it an ideal location for Victoria’s Secret to expand its reputation for luxury and retail excellence.

The newly opened store is designed to offer an elevated shopping experience, with a special focus on beauty. It features Victoria’s Secret’s signature fragrances, luxurious body care products, and exclusive gift sets. Shoppers can explore a range of the brand’s popular collections, including Bombshell, Bare, Tease, Very Sexy, and more, making it a must-visit spot for beauty enthusiasts in Bengaluru.

Victoria’s Secret aims to provide an immersive retail experience, ensuring a seamless and luxurious shopping journey for customers to discover the brand’s iconic beauty products and exclusive collections.

Tushar Ved, President, Apparel Group India shared, “The launch of our 12th Victoria’s Secret store in India marks an exciting milestone as we continue our journey to bring the brand closer to our customers. With every new store, our goal is to deliver a premium and immersive experience that connects with the local community while providing access to our iconic brands. We are delighted to expand into the vibrant city of Bengaluru and look forward to welcoming customers into this luxurious space.”

Abhishek Bajpai, CEO, Apparel Group India added, “Bengaluru is a key market for us, representing one of India’s fastest growing and most dynamic cities. By strategically expanding in South India, we are strengthening our connection with customers and bringing Victoria’s Secret's world-class offerings closer to them.”

This Bengaluru launch follows the recent opening of Victoria’s Secret store in Hyderabad, highlighting Apparel Group’s commitment to delivering exceptional retail experiences across South India.

Raymond Limited announced its unaudited financial results for the quarter ending December 31, 2024, showcasing a strong performance driven by its Real Estate and Engineering businesses. The company maintained its growth momentum, reporting a consolidated quarterly revenue of Rs.  985 crore, a 36 percent increase compared to the same quarter in the previous financial year. Additionally, EBITDA stood at Rs.169 crore, with an EBITDA margin of 17.2 percent. The reported performance includes the impact of the MPPL acquisition, which was completed in March 2024.

The Real Estate segment played a significant role in this growth, achieving a booking value of Rs. 505 crores, fueled by strong demand for projects such as The Address by GS 2.0, TenX ERA, and the sale of retail shops in Thane, and JDA The Address by GS in Bandra. Raymond Limited continues to maintain a Net Cash Surplus position, with Rs. 686 crore available for future expansion.

Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “We witnessed continued growth momentum in our Real Estate business during the quarter, with a strong booking value on account of the successful launch of a new residential tower and continued traction in high street retail shops on our Thane land. Additionally, we remain optimistic about the future of our Engineering business, particularly in the aerospace sector, where we foresee significant growth opportunities. As we enter the last quarter of the financial year, we remain optimistic about the growth trends across businesses and we are confident in our ability to deliver sustained value to our stakeholders.”

In the Real Estate segment, Raymond Realty reported steady growth with revenue reaching Rs. 488 crore in Q3 FY25, compared to Rs. 439 crore in Q3 FY24, marking an 11 percent year-on-year increase. EBITDA for the segment grew to Rs. 116 crore from Rs. 97 crore in the same period last year, with an EBITDA margin improvement of 160 basis points to 23.8 percent. The launch of a new residential tower in The Address by GS 2.0, Thane, received an overwhelming response. Additionally, the Park Avenue – High Street Reimagined Retail project in Thane continued to attract interest, offering a premium retail experience with aspirational brands. Raymond Realty remains committed to delivering projects ahead of schedule, a factor that has enhanced customer confidence. The company’s Real Estate business has a total potential revenue of Rs. 32,000 crore, with Rs. 25,000 crore from the Thane land parcel and Rs. 7,000 crore from four separate JDAs.

The Engineering business reported sales of Rs. 433 crore in Q3 FY25, a notable increase from Rs. 217 crore in Q3 FY24, reflecting the impact of the MPPL acquisition. However, the auto components and engineering consumables segment faced challenges due to sluggish export markets caused by weak demand and geopolitical issues. The segment recorded an EBITDA margin of 12.0 percent, lower than the 13.8 percent in Q3 FY24, primarily due to changes in the product mix. Despite these challenges, the aerospace business is expected to experience growth as production issues at a major aircraft manufacturer are resolved, leading to an increase in orders.

ITC’s Sunfeast has launched Sunfeast Wowzers. This new product aims to redefine the cracker segment by offering a unique blend of crunch and flavour. Sunfeast Wowzers introduces a sweet, indulgent twist to the traditionally savoury cracker category.

Consumer preference trends indicate that "crunchiness" is a key factor in the popularity of crackers, and Sunfeast Wowzers features an exceptional 14-layer enrobed cracker design. This design ensures a crisp, indulgent texture, setting it apart from other products. The two new variants, Cheese Crème Enrobed Cracker and Lemon Crème Enrobed Cracker, promise a distinctive flavour experience. These crackers are complemented with a touch of sugar and 14 crispy layers, providing a multi-textural experience that targets homemakers seeking treats for their families and young adults looking for snacks on the go.

In conjunction with the product’s release, ITC has rolled out an advertisement campaign. The commercial, conceptualized by Ogilvy, is centered around the tagline “Iske Har Bite Mein Hai Wow!”

Ali Harris Shere, Chief Operating Officer of ITC Ltd’s Biscuits and Cakes Cluster said, “Sunfeast Wowzers is more than just a snack; it is a sensory experience that combines premium crunch with bold, delightful flavours. With this launch, we’re setting a new benchmark in the cracker category and catering to evolving consumer preferences.”

Puneet Kapoor, Chief Creative Officer at Ogilvy South added, “The proof of the pudding—or in this case, the cracker—is in the tasting. Enter Wowzers, a cracker so thrilling it practically wrote its own script. With 14 crisp, flaky layers and a cheesy taste that'll make your taste buds explode, this isn't just a snack; it’s a whole mood. Naturally, we needed an idea as over-the-top indulgent as this groundbreaking creation. So, we went all out—a larger-than-life representation to match the cracker's towering flavour profile. Because when it comes to Wowzers, subtlety is just not on the menu.”

Currently, Sunfeast Wowzers is available in Tamil Nadu, Kerala, Maharashtra, Andhra Pradesh, Telangana, West Bengal, and Gujarat. It will soon expand to other regions across India. The product is available in two sizes: a 16g pack priced at Rs 5 and a 128g pack priced at Rs 60, available across general trade, modern trade, quick-delivery platforms, and ITC stores.

The Security Solutions business of the Godrej Enterprises Group is focused on expanding its presence in India's retail security solutions industry. The company is targeting an 85 percent market share in the home locker segment and 70 percent in the safes and vaults category by 2025. As the only organized player offering security solutions across both B2B and B2C segments, Godrej aims to meet the growing demand for advanced security systems in India.

The company’s growth strategy includes consumer-focused innovation, wider accessibility, and deeper market penetration. It is leveraging a vast network of channel partners and maintaining a strong presence on e-commerce platforms such as Amazon to enhance nationwide accessibility.

“At Godrej Enterprises Group, we envision a future where well-being and security seamlessly integrate into the fabric of daily life, empowering individuals and businesses to thrive without compromise. As we chart our course toward FY-26, our focus remains on harnessing technology and customer insights to deliver solutions that are not only reliable but also anticipate the needs of an ever-evolving world. By expanding our reach to underserved markets and driving innovation, we aim to redefine industry standards and contribute meaningfully to building a secure, more resilient society,” said Pushkar Gokhale, Executive Vice-President and Business Head of the Security Solutions Business of Godrej Enterprises Group.

Godrej Enterprises Group is positioned to capitalize on the increasing demand for security solutions driven by personal consumption growth and premiumization trends. The company’s portfolio includes solar-powered CCTV cameras, safes, access control devices, safe deposit lockers, and vault equipment. Additionally, it provides specialized security solutions such as advanced valves for defense applications, catering to complex and critical security needs.

With ongoing investments in research and development, the Security Solutions business aims to expand into Tier II and Tier III cities while strengthening its global footprint. As part of its FY-26 vision, Godrej continues to focus on innovation and market expansion, ensuring its offerings align with the evolving security requirements of consumers and businesses.

The Board of Directors of Punto Fa S.L., the parent company of Mango, has unanimously appointed Toni Ruiz as Chairman while retaining his role as CEO. This decision aligns with Mango’s 2024-2026 Strategic Plan, reinforcing its long-term objectives in the retail sector in India and globally.

Additionally, the Board has named Jonathan Andic as Vice-Chairman, reaffirming the Andic family’s commitment to Mango’s future.

Toni Ruiz, Chairman and CEO of Mango said, “I am deeply grateful to the Andic family, the Board of Directors, and the entire Mango team for trusting me to continue leading this exciting project. Today, Mango is stronger than ever. We have a clear roadmap and great opportunities ahead of us. We want to keep growing and taking Mango to the top.”

As part of its ongoing efforts to professionalize management, the Board has also appointed Manel Adell as an Independent Board Member. Adell, with a degree from ESADE business school and an MBA from IMD Lausanne, has extensive experience in multinational companies such as Bang and Olufsen, Cadbury Schweppes, and Agrolimen. He previously led Desigual’s expansion as CEO and has served as an independent board member for global brands including Puig, Charlotte Tilbury, Amer Sports, and Flying Tiger.

In another key development, the Board of Mango MNG Holding S.A.U. has appointed Jonathan Andic as Chairman, while Judith Andic and Sarah Andic will serve as Vice-Chairwomen.

The Board of Directors of Mango (Punto Fa S.L.) now includes Toni Ruiz as Chairman and CEO, Jonathan Andic as Vice-Chairman, and executive board members Daniel López and Margarita Salvans. The five independent board members include Jordi Canals (IESE Business School), Jorge Lucaya (AZ Capital), Jordi Constans, Marc Puig (Puig), and Manel Adell. Eugenia Jover serves as Secretary (non-member) of the Board.

Mango’s business operations continue under its Steering Committee, comprising eleven members across key company functions. Toni Ruiz leads as CEO, with Jonathan Andic overseeing Mango Man, Luis Casacuberta managing product and sustainability, and César de Vicente as Chief Global Retail Officer. Other key executives include Elena Carasso (Online and Customer), Daniel López (Expansion and Franchise), Blanca Muñiz (Brand), Jochen Grosspietsch (Supply Chain), Jordi Álex Moreno (Information Technology), David Payeras (People), and Margarita Salvans (Finance).

The Board of Directors of Mango MNG Holding S.A.U. includes Jonathan Andic as Chairman, with Sarah Andic and Judith Andic as Vice-Chairwomen. Toni Ruiz represents Ionian Investments S.L.U. as CEO and serves as a Board Member representing Punto Fa S.L., alongside Daniel López. Eugenia Jover serves as Secretary (non-member).

Since joining Mango as CFO in 2015, Toni Ruiz has played a pivotal role in driving the company’s transformation. Under his leadership, Mango achieved record revenue of over €3.1 billion in 2023, outpacing market growth and strengthening financial stability.

Ruiz has reshaped Mango’s retail positioning by enhancing its value proposition, focusing on aspirational yet high-quality products, and maintaining a strong commitment to physical stores. Unlike many competitors, Mango continues to expand its store network. He has also overseen improvements in governance and business processes.

Recognizing his leadership, Mango’s Board made Ruiz a shareholder, granting him a 5% stake in the company. This move, proposed by Mango’s founder Isak Andic, reinforces the brand’s long-term strategic direction.

As Mango marks its 40th anniversary, the company is focused on achieving the objectives set in its 4E Strategic Plan. By 2026, it aims to exceed €4 billion in revenue and double its profits, further strengthening its presence in India and the global retail market.

Nykaa, India’s premier beauty and lifestyle retailer, has unveiled its largest Luxe store at Phoenix Palladium, marking a significant milestone in the luxury beauty experience in the city. The 3,000 sq. ft. store, located in one of Mumbai's most prominent luxury shopping destinations, offers a curated space designed to cater to beauty enthusiasts with a focus on innovation, luxury, and individuality.

The store features a thoughtfully designed layout with immersive brand zones, allowing customers to engage with exclusive products in intimate "Shop in Shops." With cutting-edge technology at its core, Nykaa introduces AI-powered services, including virtual try-ons and personalized skin consultations, powered by Orbo’s Magic Mirror technology. Customers can also indulge in express skincare treatments, with luxury 15-minute facials provided by Dermalogica in a dedicated service room. For those looking for a complete makeover, Nykaa offers in-store makeovers by its certified professional artists. The store also emphasizes a personalized gifting experience, allowing customers to curate custom gift sets, complete with engraving and bespoke packaging, ensuring every gift is as unique as its recipient.

The store’s design enhances the luxurious ambiance with premium materials, elegant lighting, and curated thematic displays, including dedicated gifting zones and bestseller sections. These elements work together to ensure a tailored and immersive shopping journey for every visitor.

Anchit Nayar, Executive Director and CEO, Nykaa Beauty shared, “Every Nykaa store is a reflection of our unwavering belief in making beauty more accessible and experiential. The Luxe store at Phoenix Palladium is not just our largest but also our most ambitious endeavor yet. With its elevated design and world-class aesthetics, we’ve created a first-of-its-kind space that brings the essence of international beauty shopping to India. From exclusive global brands to personalized services, this store is a destination that champions the diversity and inclusivity of beauty while redefining the luxury retail experience.” 

Since its inception in 2014, Nykaa has bridged the gap between online and offline retail, becoming a trailblazer in India’s beauty industry. The opening of the Luxe store at Phoenix Palladium is another step in Nykaa's mission to deliver an unparalleled beauty shopping experience, cementing its position as a leader in luxury beauty retail in India.

Glamzy, an omnichannel beauty platform, has expanded its retail presence in South India, aiming to enhance accessibility to beauty and wellness products in tier ll and tier lll cities. The company combines an online platform with an expanding offline store network to provide financially inclusive beauty retail.

The platform addresses the challenges middle-income women face in non-metro regions with limited access to high-quality beauty and wellness products. Currently, Glamzy operates four stores in Mysuru and plans to launch an immersive experience store soon. Its omnichannel platform, available via the web and the Glamzy app, offers free 15-minute delivery across Karnataka and Tamil Nadu, excluding Bangalore and Chennai.

Rahul Aggarwal and Hariher Balasubramanian, Co-Founders leverage their experience from building BuyEazzy, a beauty e-commerce platform, to strengthen Glamzy. “Our vision is to establish 10 Glamzy stores across non-metro cities by the end of 2025. This expansion is a step toward making quality beauty products accessible to a wider audience, and we are thrilled to bring this vision to life,” said Rahul Aggarwal, Co-Founder, Glamzy.

Hariher Balasubramanian added, “The overwhelming response we’ve received in Mysuru has been inspiring. We aim to replicate that success across other cities, creating a one-stop destination for both traditional beauty essentials and the latest trends.”

Glamzy offers a range of products across skincare, haircare, color cosmetics, fragrances, personal care, and men’s grooming, catering to different budgets and preferences. The company integrates the try-and-buy appeal of physical stores with the speed and convenience of its online platform.

As Glamzy continues to expand, its focus remains on making beauty and wellness accessible and inclusive for a broader consumer base.

One of the renowned women's fashion brands Madame has launched its sixth outlet in Northeast India, making its debut in Nagaland. Situated on Nyamo Lotha Road in Dimapur, the new store presents a carefully curated selection of the latest trends in women's apparel and accessories, reaffirming Madame’s dedication to providing contemporary fashion to its expanding customer base.

The grand opening was graced by Ruopfuzhano Whiso, Miss Universe Fourth Runner-Up 2024, and a celebrated personality in the region, adding a touch of glamour to the event. With this new store, Madame strengthens its footprint in the Northeast, complementing its existing outlets in Gangtok, Guwahati, Imphal, Itanagar, and Siliguri. This expansion highlights the brand’s commitment to making modern Western fashion more accessible in the region.

Akhil Jain, Executive Director, Madame said, “Northeast India has always been a significant market for us, given its vibrant fashion culture and discerning customer base. The fashion-forward women of Nagaland have always impressed us with their unique sense of style. The opening of our first store in Nagaland is a step towards bringing our unique fashion collections closer to the people of the region and we are excited to become a part of their fashion journey. We look forward to fostering a strong connection with our customers in Dimapur and beyond.”

From modest beginnings, Madame has grown into a leading fashion powerhouse with over 900 points of sale nationwide. The brand’s evolution into a retail giant showcases its deep understanding of shifting consumer preferences and ability to adapt to evolving fashion trends.

The Dimapur store offers Madame's full range of western wear, including casual wear, workwear, and party wear, catering to the diverse lifestyle needs of contemporary women. With this launch, Madame continues its mission to inspire fashion-forward choices and expand its presence in the Northeast. Embodying the philosophy of Be Everyone U R, the brand encourages women to embrace their multifaceted lives. Offering styles for every season and occasion, Madame remains dedicated to empowering women through fashion.

Colgate-Palmolive (India) Limited reported a slight reduction in advertising expenditure for Q4 FY24, with spending amounting to Rs. 200.1 crore, a 2.1 percent decline compared to Rs. 204.3 crore in the same period last year. The quarter-on-quarter drop in advertising expenses was more pronounced, falling by 17.6 percent from Rs. 242.7 crore in Q3 FY24.

Despite scaling back on advertising, the company recorded a 4.7 percent year-on-year growth in net sales, which reached Rs. 1,452 crore for the quarter ended December 31, 2024. For the nine-month period, Colgate-Palmolive demonstrated stronger growth momentum, with net sales rising 9.2 percent year-on-year to Rs. 4,547 crore, up from Rs. 4,164 crore during the corresponding period in the previous year.

In terms of profitability, the company reported a sequential improvement in gross margin and EBITDA margin compared to the preceding quarter. However, these metrics remained below the elevated levels set last year. The net profit after tax for the quarter stood at Rs. 322.8 crore, reflecting a marginal 2.2 percent decline from the Rs. 330.1 crore reported in the same quarter last year.

For the nine-month period, the company posted a stronger profit performance, with net profit after tax rising 14.6 percent year-on-year to Rs. 1,081.8 crore, compared to Rs. 943.8 crore in the same period of the previous year, despite the reduction in advertising expenditure.

Although gross margin and EBITDA margin showed sequential improvement compared to the previous quarter, both remained slightly below the elevated base set last year. Nonetheless, the overall results reflect Colgate-Palmolive India's strong position in the market and its ability to navigate challenges in the business environment.

Looking ahead, the company will continue to focus on balancing advertising investment and cost efficiency while driving sales growth and improving margins. Colgate-Palmolive’s performance for Q4 FY24 and the nine-month period sets a solid foundation for further growth as the company maintains its leadership in the oral care segment and expands its presence in the broader consumer goods market.

Shoppers Stop, one of the renowned department store chains, has significantly bolstered its presence in North India with the grand opening of its latest outlet in Pitampura, a bustling residential area in North West Delhi. This new store marks a major milestone in the company’s expansion plans as it continues to strengthen its foothold in key locations across the region.

“We are thrilled to announce the launch of our brand-new store at Pitampura, a vibrant locality known for its rich heritage and community spirit. Named after the historic ‘Pitampura Village’, this neighborhood beautifully blends tradition and modernity – a perfect match for Shoppers Stop’s ethos,” the company expressed on social media.

The new outlet offers an extensive selection of national and international brands, catering to diverse customer needs. Shoppers Stop’s Pitampura store features a broad assortment of apparel, watches, bags, sunglasses, fragrances, and gifting options, serving men, women, and children. Customers will find a wide variety of products suited to different tastes, preferences, and occasions, making it a one-stop destination for fashion, beauty, and lifestyle needs.

The store showcases a range of well-known global and Indian brands, including Jack & Jones, Rare Rabbit, Latin Quarter, Only, Vero Moda, Levis, Chambor, Colorbar, Faces Kay Beauty, Maybelline, L’Oreal, Lakme, Adidas, Lee Cooper, Louis Philippe, Puma, Skechers, and many more. These brands are renowned for their quality and style, ensuring that customers have access to the latest trends and high-quality products across multiple categories.

Since its inception in 1991, Shoppers Stop has grown into one of India’s most prominent department store chains, with a strong presence across the country. Currently, the retailer operates 109 department stores, 11 premium home concept stores, 85 specialty beauty stores under renowned global brands such as M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, SS Beauty, 59 Intune stores, and 20 airport outlets. The total retail space under Shoppers Stop spans a massive 4.3 million square feet, located across 68 cities in India, underscoring the brand's expansive reach.

India-based alcoholic beverage company Loca Loka has announced a strategic addition to its global leadership team with the appointment of Rajiv Ghumman as Global Business Head. With over 20 years of experience in building global brands across India and Southeast Asia, Ghumman has previously worked with industry leaders such as Bacardi, Jose Cuervo, and United Distillers India Ltd, where he managed prominent brands like Black and White, Vat 69, and White Horse Whisky.  

In his new role, Ghumman will oversee marketing strategies, sales operations, and expansion initiatives for Loca Loka across key international markets, reflecting the company’s commitment to global growth. Loca Loka has recently expanded its retail footprint into the United States and Southeast Asia, aiming to establish itself as a prominent player in the tequila segment worldwide.  

Rajiv Ghumman stated, “It is an honor to step into this global role at such a transformative time for Loca Loka and the tequila industry at large. Having witnessed firsthand the dynamic potential of the brand, I am excited at the prospect of driving this momentum globally. Our focus will remain on delivering exceptional quality, fostering brand loyalty, and introducing the authentic tequila experience to a wider audience.”  

Harsha Vadlamudi, Founder of Loca Loka shared, “Rajiv has consistently demonstrated unparalleled strategic insight and a deep understanding of our industry over the last 18 months. His leadership has been instrumental in our remarkable growth within global markets. As we venture into new territories across the US, Southeast Asia, Dubai, and London, I am confident that his vision will help us establish Loca Loka as a global force in the tequila category.”  

Global Expansion and Industry Trends  

Loca Loka has made significant strides in the past six months, successfully launching its products in the United States, focusing on key states with a growing preference for premium tequila. The company has also entered Southeast Asia, a market with increasing demand for innovative spirits. These developments align with the global tequila industry’s growth trajectory, which has been driven by rising consumer interest in premium and craft tequila.  

The global tequila market, valued at 415.4 million liters in 2023, is projected to reach 594.7 million liters by 2030, with a compound annual growth rate (CAGR) of 8.1 percent between 2022 and 2028. Factors such as premiumization, craft production, diverse flavor profiles, and increased interest in agave-based spirits contribute to this growth. Tequila’s lower sugar levels compared to other spirits have also boosted its popularity among health-conscious consumers.  

Initial Offerings and Retail Strategy  

Loca Loka has officially entered the international alcoholic beverage market with its flagship products: Tequila Blanco and Tequila Reposado. The Blanco offers a blend of fruity flavors from cooked agave and floral notes from Highland agaves, while the Reposado features richer aromas and is aged in French and American oak barrels. The Tequila Blanco 750 ml bottle is priced at $40, while the Tequila Reposado is available for $49.  

With its continued focus on quality and global expansion, Loca Loka is positioning itself as a significant player in the premium tequila market, leveraging India’s expertise in retail strategies and expanding its reach across international markets.

Glamzy, a well-known beauty omnichannel platform, has officially launched its operations in South India, the company announced in a release. Combining a robust online platform with a growing network of offline stores, Glamzy aims to make affordable beauty products accessible to underserved areas, focusing on middle-income women in non-metro cities.

Currently, Glamzy operates four stores in Mysuru and is gearing up to introduce an experience store soon. Through its web platform and the Glamzy app, the company provides a curated selection of beauty and wellness products, promising rapid, free delivery within 15 minutes across Karnataka and Tamil Nadu, excluding Bangalore and Chennai.

“Our vision is to establish 50 Glamzy stores across non-metro cities by the end of 2025. This expansion is a step toward making high-quality beauty products accessible to a wider audience. We are excited to bring this vision to life,” shared Rahul Aggarwal, Co-Founder, Glamzy. 

Hariher Balasubramanian, Co-founder, Glamzy added, “The overwhelming response in Mysuru has been inspiring. We aim to replicate this success across other cities, creating a one-stop destination for traditional beauty essentials and the latest trends.”

Glamzy offers an extensive range of products spanning skincare, haircare, cosmetics, fragrances, personal care, and men’s grooming, catering to diverse budgets and preferences.

Positioned as a quick-commerce platform, Glamzy integrates offline and online retail to redefine beauty and wellness accessibility across India. With a focus on inclusivity, diversity, and convenience, Glamzy strives to empower individuals while addressing the unique needs of Tier II and Tier III cities.

The platform’s approach to inclusivity and accessibility sets it apart from traditional beauty retail models. With a keen focus on diversity, Glamzy seeks to celebrate and support individuality, ensuring that its products meet the varying needs of customers across India. This commitment is further underscored by its emphasis on convenience, with features like rapid delivery and a user-friendly app interface designed to simplify the shopping experience.

Emami Limited, one of India's leading FMCG companies, has seen a noteworthy increase in its advertising and promotional expenditure for the third quarter of FY25. The company’s advertising spending rose by 6 percent year-on-year, reaching Rs. 175.7 crore compared to Rs. 165.7 crore in the same quarter last year. This growth in spending reflects the company’s continued focus on enhancing brand visibility and driving consumer engagement through various marketing initiatives.

The company also witnessed a substantial sequential increase of 20.6 percent in advertising expenses from Rs. 145.7 crore in Q2 FY25, demonstrating a strategic ramp-up in marketing efforts to support its ongoing growth trajectory. This uptick in advertising spend aligns with Emami's broader strategy of bolstering its brand presence and expanding its reach across key markets.

In terms of overall business performance, Emami reported strong revenue growth for Q3 FY25. The company’s revenue from operations rose to Rs. 1,049.5 crore, marking a 5.3 percent increase from Rs 996.3 crore in the same quarter of the previous fiscal year. This year-on-year growth in revenue highlights the resilience of Emami’s diverse portfolio of brands, which include well-known products in the personal care, health care, and home care categories.

On a quarter-on-quarter basis, the company achieved an impressive 17.8 percent growth in revenue, up from Rs. 890.6 crore in Q2 FY25. This significant sequential growth reflects the impact of the company’s marketing strategies, coupled with the strong performance of key product categories that continue to resonate with Indian consumers.

In addition to its growth in revenue, Emami also reported a robust profit after tax (PAT) of Rs. 279 crore for Q3 FY25, underlining its profitability despite an increase in marketing spend. The PAT figure signifies the company’s efficient cost management and its ability to generate strong returns from its expanding operations.

KRBL Ltd has announced Bollywood actor Amitabh Bachchan as the brand ambassador for its flagship ‘India Gate’ brand. This move underscores the company’s efforts to strengthen its presence in India’s retail market and reinforce its position as a global leader in the basmati rice segment.  

Ayush Gupta, India Business Head, KRBL stated, “We are honoured to welcome Amitabh Bachchan to the KRBL family. His legendary stature, unwavering integrity and timeless appeal perfectly resonate with our core values and rich heritage.”  

The company aims to leverage Bachchan’s iconic presence to enhance consumer engagement, with plans to promote the brand’s story across India and globally. KRBL Ltd a publicly listed company, is recognized as one of the world’s leading players in the basmati rice industry. In addition to rice, the company also offers a range of other consumer food products.  

With this collaboration, KRBL seeks to deepen its connection with consumers and expand its reach within the retail sector in India and beyond.  

Lakshita, a brand specializing in ethnic and fusion wear, has reported significant growth in India’s retail sector post-pandemic. Known for blending traditional Indian clothing with contemporary styles, the brand has been steadily expanding its footprint across the country.  

Established to merge ethnic fashion with modern aesthetics, Lakshita offers a wide range of garments crafted from fabrics like velvet, suede, rayon, and chanderi. Its designs, characterized by embroidery, prints, and sequins, cater to both everyday and festive wear, appealing to a diverse customer base.  

Lakshita’s recovery after the pandemic has been driven by its strong presence in both online and offline retail. The brand plans to open 100 exclusive brand outlets (EBOs) by the end of FY 2024-25, targeting regions like Himachal Pradesh and Chandigarh. By FY 2025-26, it aims to expand to 150 stores and double its revenue by FY 2027-28.  

This growth plan involves investments in store renovations, technology upgrades, and hiring skilled professionals to enhance the customer experience. To improve in-store engagement, digital screens have been introduced in select locations, enabling customers to explore collections interactively. These features will be extended to more stores, combining traditional retail with modern technology.  

Lakshita emphasizes customer satisfaction by offering services such as lifetime alterations, ensuring long-term value for its buyers. The brand’s online presence has also grown significantly, supported by social media marketing and influencer collaborations on platforms like Instagram and Facebook. This digital strategy has helped Lakshita connect with younger, tech-savvy customers.  

The *Sitarey* collection is one of Lakshita’s standout offerings. Inspired by Bollywood glamour, it features elegant A-line and straight silhouettes crafted from fabrics like velvet and chanderi. The collection’s rich jewel tones, embroidery, sequins, and digital prints are ideal for festive occasions such as Navratri, Durga Puja, and Karwa Chauth.  

Looking ahead, Lakshita plans to introduce a wedding line with intricate designs for brides and wedding guests, alongside an Indianized Western wear range. The latter will blend Western silhouettes with Indian fabrics, catering to modern tastes with a traditional twist. E-commerce remains a core focus for Lakshita as it continues to expand its online presence through digital marketing and social media. This omnichannel approach allows customers to shop conveniently, both in-store and online.  

The brand is also exploring international markets, aiming to expand globally by 2025. With its unique combination of ethnic and fusion wear, Lakshita is positioning itself to succeed in international retail while maintaining its strong presence in India.  

As Lakshita works toward its goals of opening more stores, launching new collections, and embracing digital retail, it is poised for continued growth in the Indian retail market and beyond.  

Hindustan Unilever (HUL) has announced its financial results for the quarter ending December 31, 2024, revealing notable shifts in advertising and promotional expenditures, alongside strong profit growth fueled by strategic moves. The company reported advertising spends of Rs 1,466 crore, reflecting an 8 percet year-on-year (YoY) decline from Rs 1,593 crore in December 2023. However, quarter-on-quarter (QoQ), the spending increased marginally by 0.1 percent from Rs 1,464 crore in September 2024.

HUL’s standalone net profit surged 19 percent YoY to Rs 3,001 crore, up from Rs 2,519 crore in the corresponding quarter last year. This significant rise was bolstered by a one-time exceptional gain from the divestment of its Pureit business.

The company’s standalone revenue grew 2 percent YoY to Rs 15,195 crore, driven by a 6 percent underlying sales growth (USG) in the Home Care segment, attributed to high-single-digit volume growth in fabric wash and household care categories. However, overall underlying volume growth (UVG) was flat, impacted by a negative product mix.

Rohit Jawa, CEO and Managing Director, HUL, said, "FMCG demand trends remained subdued with continued moderation in urban growth while rural sustained its gradual recovery. In this operating context, we delivered competitive growth by driving unmissable brand superiority, investing behind brands and capabilities whilst maintaining healthy margins. In line with our strategic intent to transform our portfolio in fast-growing spaces, I am excited to announce the acquisition of the premium actives-led beauty brand Minimalist. This acquisition is another key step to grow our Beauty & Wellbeing portfolio in the high growth masstige beauty segment."

The retail real estate market in India witnessed robust activity in 2024, with fashion and apparel retailers leading the charge. According to the latest report H2 2024, the fashion and apparel segment accounted for 37 percent of the total retail leasing during the July-December 2024 period. This was followed by entertainment (14 percent) and homeware and department stores (13 percent).

Retail leasing activity across India’s top eight cities reached approximately 6.4 million sq. ft. In 2024, with 3.2 million sq. ft. absorbed in H2 alone. Bengaluru emerged as the frontrunner, followed by Hyderabad and Delhi-NCR, collectively contributing 58 percent of the total space absorbed in H2 2024.

Key factors driving this growth include a 2 percent year-on-year increase in consumer confidence, a projected 9 percent growth in retail sales for 2025 compared to 2024, and a 6 percent rise in consumer spending. These positive indicators are expected to sustain momentum in the retail sector, particularly in discretionary categories like apparel, footwear, and recreational goods.

Domestic transactions dominated the retail leasing landscape, accounting for 77 percent of total activity. Limited new supply in 2024, with just 0.7 million sq. ft. of Grade A mall space added during H2, led to a rise in rental values in select micro-markets. However, a strong supply pipeline is anticipated in 2025, with 5-6 million sq. ft. of Grade A malls expected to commence operations in key cities such as Bengaluru, Hyderabad, Delhi-NCR, and Mumbai.

“The Indian retail landscape is set for significant growth in 2025. With a robust supply pipeline and continued demand from key sectors, retail leasing is poised to remain strong. Retail spaces are evolving to offer a seamless mix of shopping, dining, and entertainment, ensuring a dynamic and transformative year ahead,” said Anshuman Magazine, Chairman and CEO of CBRE India, Southeast Asia, Middle East & Africa.

The report also highlights the continued expansion of the direct-to-consumer (D2C) sector, contributing 7 percent of retail leasing activity in 2024. Strategic partnerships facilitating the entry of foreign brands and the evolution of experiential retail are expected to further transform India’s retail market in 2025.

Gemological Science International (GSI), a leading global gemological organization, has launched a state-of-the-art satellite laboratory in Indore to cater to the dynamic jewellery market of Madhya Pradesh. The facility, inaugurated on 24 January 2025 by Ramit Kapur, Managing Director of GSI India, spans 1,200 sq. ft. and offers same-day certification services for jewellery, diamonds, and gemstones.

This new laboratory aims to meet the rising demand for fast and reliable certification services in Madhya Pradesh’s growing jewellery manufacturing and trading sector. Traditionally reliant on sourcing from Mumbai, Surat, and Jaipur, the state is witnessing a shift towards local manufacturing, driven by increasing customer demand for customised jewellery. GSI’s Indore lab will play a pivotal role in ensuring accurate certification and quality assurance, fostering transparency and trust in the regional jewellery market.

Equipped with advanced technology, the lab introduces specialised services previously unavailable in the state. Among its cutting-edge tools is the ‘Trusure’ series by Mindron and GSI, designed for advanced screening and testing of diamonds and gemstones. These resources enable jewellers to operate with confidence, ensuring high standards of quality in their products.

Highlighting the lab’s mission, Ramit Kapur said, “The rise in customer demand for customised jewellery has spurred a shift toward local manufacturing in Madhya Pradesh, reducing reliance on sourcing from Mumbai, Surat, and Jaipur. With this shift comes the critical need for accurate certification and quality assurance. GSI’s Indore lab offers same-day gemological services with unmatched turnaround times, empowering jewellers to meet market demands efficiently while ensuring consumer trust. Our global expertise, combined with cutting-edge technology, streamlines the certification process, transforming how jewellery businesses operate in Madhya Pradesh.”

As part of its commitment to strengthening Madhya Pradesh’s jewellery supply chain, GSI will host workshops for retailers and sales teams on advanced sales techniques and gemstone education. Tailored sessions for end-consumers will also be organized to help them make informed decisions and enhance their jewellery shopping experience.

Founded in 2005 in New York, GSI is renowned for its global expertise, ethical practices, and innovative gemological solutions, making it a trusted partner for manufacturers and retailers worldwide.

Renowned jewellery brand PNG Jewellers has reached a significant milestone with the inauguration of its 50th store in the historical city of Satara. The store was launched on January 24, 2025, by popular actor Swapnil Joshi, marking a pivotal moment in the brand’s retail expansion journey.

Known as Maharashtra’s most cherished family jeweller, PNG Jewellers has been rapidly expanding its footprint. In 2024, the brand launched nine stores across nine consecutive days during Navratri, setting an impressive record. This was followed by a star-studded store inauguration in Solapur on January 10, 2025, featuring Bollywood icon Madhuri Dixit. The latest addition in Satara further underscores PNG Jewellers’ strategic focus on catering to the evolving preferences of consumers in tier 2 and tier 3 cities, which are emerging as key markets for luxury goods and jewellery.

Celebrating 193 years of heritage, PNG Jewellers has built a strong reputation for quality and trust, serving over 3 million loyal customers globally. The brand is a household name in Maharashtra and enjoys popularity among Indian communities in the USA as well.

Reflecting on this achievement, Chairman and Managing Director Dr. Saurabh Gadgil expressed his gratitude, saying, “It brings us immense pleasure to reach the 50-store threshold with this launch. This is an incredible milestone in our long journey and also a stepping stone for all future endeavours. All of us at PNG Jewellers are humbled by the love and patronship of our customers. We are determined to scale new heights and set new benchmarks as we continue on our path of upholding trust of our customers and bringing to them the best in class products.”

Under the visionary leadership of Dr. Saurabh Gadgil, PNG Jewellers has become synonymous with excellence in craftsmanship and customer service. With its rich legacy and strategic expansion plans, the brand is poised to further strengthen its position in the global jewellery market while continuing to win the hearts of jewellery enthusiasts worldwide.

Australian hair styling brand Mermade Hair has officially entered the Indian market through a collaboration with Reliance Retail’s omnichannel beauty platform, Tira. Founded in 2019 as a digitally native brand powered by Instagram, Mermade Hair quickly gained a strong online following, amassing over 450,000 Instagram followers and 90,000 TikTok followers.

“I am so excited to bring our Australian hair brand to India.I believe that every person here deserves personal, high-quality hair care that will reflect their beauty, and I’m excited to be part of the journey to healthier, more confident hair,” said Tara Simich, Founder, Mermade Hair.

Indian customers can now access Mermade Hair’s complete product range, including hair tools, haircare formulations, and accessories, exclusively on Tira’s online marketplace.

Since its launch in 2023, Tira has been instrumental in introducing renowned global beauty and wellness brands to the Indian market. Some of its recent additions include Shein’s cosmetic brand SheGlam, Korean beauty brand TIRTIR, and luxury skincare and haircare brand Augustinus Bader.

The Coca-Cola Foundation (TCCF) announced on Thursday its partnership with the United Nations Development Programme (UNDP) to address the growing challenge of plastic waste management in Asia, including India. The initiative is supported by a $15 million (approximately Rs 130 crore) grant from TCCF.

This three-year, multi-country program will span nine Asian countries—Bangladesh, Bhutan, Cambodia, India, Maldives, Nepal, Philippines, Sri Lanka, and Vietnam—and focus on improving plastic waste management systems, promoting recycling, reducing plastic leakage into the environment, fostering localized solutions, and encouraging regional collaboration.

“By adopting and disseminating best practices across the region, the programme aims to inspire policy changes and community-level actions to reduce and help to eliminate disposable plastic and improve the livelihoods of waste workers,” the statement read.

Launched in India on Thursday, the initiative aims to enhance waste management systems and recycling infrastructure in the region. Carlos Pagoaga, President, The Coca-Cola Foundation, said, “Collaboration is key to help improve waste management systems and strengthen recycling infrastructure. Through our collaboration with UNDP, the foundation aims to advance solutions that minimise packaging waste, support better collection methods, and enhance processing capabilities.”

Christophe Bahuet,  UNDP Deputy Regional Director for Asia and the Pacific, remarked, “Across Asia, countries are combating the problem by embracing the circular economy. Through our Zero Waste and Plastics initiatives, we are helping them craft policies, attract investments, and reduce the consumption of single-use plastics.”

Pagoaga further highlighted how this initiative contributes not only to better addressing plastic waste but also to long-term improvements in local communities and the environment. This program reflects a collaborative effort to inspire meaningful change at both the policy and community levels across the region.

Hazoorilal Legacy, one of the leading names in the fine jewelry segment, has launched its first international flagship showroom in Dubai, marking a monumental step in its 73-year journey. This milestone brings the brand’s exceptional craftsmanship and exquisite high jewelry creations from India to the Middle East.

Established in 1952, Hazoorilal Legacy is celebrated as one of India’s leading purveyors of fine bridal luxury jewelry. Over the decades, the Delhi-based brand has become synonymous with artistry and innovation. Known for its bespoke, in-house designs, Hazoorilal Legacy meticulously selects only the finest gemstones and certified diamonds to ensure superior quality and consistency across its collections.

Located at Dubai Hills Mall, the new showroom spans 2,500 square feet and features a minimalist design with earthy tones, creating an inviting and immersive shopping experience. The store showcases the brand’s signature collections, including the Legacy Collection, which is known for its groundbreaking designs, the Vintage Voyage Collection, and the stackable Zoori Collection. These offerings seamlessly blend intricate Indian designs with contemporary global aesthetics.

Armaan Narang, the driving force and visionary behind the Dubai showroom added, “Hazoorilal Legacy is a brand built on the rich tradition of artists, jewelers, and gemologists and is united by passion, education, industry, and ethics. The brand stands at the crossroads where the science of gemology meets the artistry of jewelry making. Dubai, with its reputation as a global luxury hub, offers the perfect environment for Hazoorilal Legacy to debut in the Middle Eastern market. This city is the ideal backdrop for its first international flagship store. We warmly invite you to visit and explore a world of fine jewelry.”

Rohan Narang, Director at Hazoorilal & Sons Jewellers Private Limited expressed, “Hazoorilal Legacy is a culmination of the family’s knowledge, expertise, and passion for the art of jewelry making, passed down through three generations and honed over 7 decades. We are honored to bring this legacy to Dubai, a city renowned for its luxury and sophistication. While we have always felt the warmth of our Middle Eastern clientele through exhibitions and events, the opening of our permanent boutique now offers direct access to our exclusive jewelry collection.”

With this launch, Hazoorilal Legacy aims to expand its presence beyond Indian borders, offering Middle Eastern customers a taste of its heritage, artistry, and luxury. The Dubai boutique is set to redefine fine jewelry shopping, combining Indian tradition with international elegance.

Godrej Consumer Products Limited (GCPL) announced its advertising expenditures for the third quarter of FY24, amounting to Rs. 364.4 crore. This reflects a 6 percent year-on-year (YoY) increase from the Rs. 343.3 crore spent during the same period last year. On a quarter-on-quarter (QoQ) basis, the company’s advertising spending also rose slightly from Rs. 364 crore recorded in the quarter that ended in September 2024. This sustained investment highlights GCPL's continued focus on strengthening its brand presence and engaging consumers across its key categories.

Despite the uptick in advertising spending, GCPL reported a 14.3 percent YoY decline in consolidated net profit, which stood at Rs. 498 crore for the quarter. The decrease was attributed to subdued performance in its Home and Personal Care segments, which form a significant part of the company’s product portfolio. In comparison, GCPL had recorded a net profit of Rs. 581 crore during the corresponding quarter of the previous fiscal year. Furthermore, the company’s net profit for the preceding September 2024 quarter was marginally higher at Rs. 491.31 crore.

On the revenue front, GCPL saw modest growth, with total revenue for the quarter reaching Rs. 3,749 crore. This marked a 3 percent YoY increase and a 2 percent QoQ rise. Among its segments, the Home Care category contributed Rs. 1,095 crore, reflecting a 4 percent YoY growth, driven by continued consumer demand in this space. Meanwhile, the Personal Care division reported revenues of Rs. 1,044 crore, indicating a 2 percent YoY increase, signaling a steady performance in the segment despite broader challenges.

These financial results underscore GCPL’s efforts to maintain growth amid a competitive market and economic headwinds. By continuing to prioritize advertising and brand-building initiatives, the company aims to strengthen its market position and drive long-term performance in its core categories.

Nature’s Basket, the gourmet retail arm of Spencer’s Retail, has introduced Elysium, the country’s first-ever gourmet food membership program. The membership initiative has been rolled out in seven cities—Mumbai, Pune, Bengaluru, Kolkata, Delhi, Gurgaon, and Ahmedabad. Elysium offers members a range of exclusive benefits, including special pricing, free home delivery, personalised assistance, invitations to curated tasting events, swift checkouts, hassle-free returns, and masterclasses at The Chef’s Table.

Elysium goes beyond in-store perks by collaborating with 35 brands across sectors such as travel, dining, wellness, beauty, leisure, and fashion to extend premium benefits to members. The membership was officially launched by chef and entrepreneur Pooja Dhingra at the Nature’s Basket Artisan Pantry located at Phoenix Palladium Mall in Mumbai.

“We are thrilled to introduce the Elysium Membership to our customers. With Elysium, we aim to offer not just artisanal products but a holistic, tailored experience that reflects the evolving needs and preferences of our clientele," said Shashwat Goenka, Chairman, Spencer’s Retail and Nature’s Basket.

The Elysium Membership is available for purchase at all Nature’s Basket stores. Nature’s Basket, a wholly owned subsidiary of Spencer’s Retail and part of the RP-Sanjiv Goenka Group headquartered in Kolkata, started as a single store in Mumbai in 2005. The brand has since evolved into an omni-channel retail business with over 36 stores across cities like Mumbai, Pune, Bengaluru, Delhi NCR, Ahmedabad, and Kolkata.

Nexus Select Malls, India’s largest mall operator, has achieved a significant milestone in the retail sector with its NexusONE app surpassing Rs 1000 crore in bill uploads within just over a year. This achievement highlights the app's role in enhancing customer engagement and supporting retailers across India.  

Designed to integrate technology with retail, NexusONE offers tailored customer experiences, exclusive rewards, and actionable insights for retailers. With over 4 lakh unique users, the app has proven its effectiveness in strengthening the retail ecosystem.  

Nishank Joshi, Chief Marketing Officer of Nexus Select Malls said, "Crossing the Rs 1000 crore mark in bill uploads is a testament to the success of NexusONE and its transformative impact on the retail landscape. It exemplifies our vision of blending innovation with retail, providing not just a shopping app but a dynamic ecosystem for customers and retailers to thrive. We remain committed to setting new benchmarks in the industry.”  

This milestone underscores Nexus Select Malls' focus on innovation and its efforts to create a connected and engaging retail experience. NexusONE continues to drive growth and deliver value to its stakeholders in India’s evolving retail landscape.

Medusa Beverages, a key player in the Indian retail alco-bev sector known for its innovative and premium beers, has raised Rs 56 crore in its Series A funding round. This round, led by investors Amal N Parikh and Ashwin Kedia, also saw co-investment from Ramesh Damani, Nikhil Garg, Crest Opportunities, and high-net-worth individuals (HNIs) based in Singapore, the UK, and the UAE. This funding is aimed at scaling operations and positioning Medusa as an umbrella brand, with plans to invest in strategic partnerships across the value chain.

The fresh capital will be used to bolster Medusa’s market presence and continue its growth as a leader in India’s alco-bev industry. The company has secured patient capital from investors who have developed a deep understanding of Medusa’s operations during the due diligence process, ensuring sustainable growth without the pressure of rapid expansion at the expense of long-term stability.

In just five years, Medusa has become a market leader in the crown market of Delhi, reinforcing investor confidence in its strategic direction. "This investment is a testament to Medusa’s growth story and our vision of becoming a dominant player in the Indian alco-bev space. With the support of our investors, we are excited to expand our operations, build a diverse portfolio of brands, and strengthen our presence in key markets. Our focus remains on growth, innovation, and delivering high-quality products to our consumers," said Avneet Singh, Founder and CEO of Medusa Beverages.

With the Indian alco-bev industry scaling to 350 million cases and growing, Medusa is well-positioned to seize emerging opportunities while navigating challenges in the sector. The company remains committed to enhancing its market share and strengthening its leadership in the industry.

Puma, one of the renowned German sportswear brands, has reported weaker-than-expected sales for the fourth quarter and a decline in its annual profit, raising concerns about its competitiveness against larger industry rivals, Adidas and Nike. The disappointing results, released late on Wednesday, come on the heels of Adidas’ impressive performance, which showcased strong sales and profitability, further accentuating the contrast in the performance of the two brands.

Despite its efforts to carve a more significant presence in the $400 billion global sportswear market, Puma is facing mounting challenges. The company has been actively working to launch new products and trends, such as the motor racing-inspired Speedcat. However, according to analysts at JP Morgan, sales for the Speedcat have been weaker than anticipated, with demand falling short of expectations.

Meanwhile, the sportswear market remains largely dominated by Adidas’ retro Samba trainers, which continue to enjoy strong popularity, and new, fast-growing brands like On Running and Hoka, which have disrupted the market with innovative offerings. These developments have put additional pressure on Puma to differentiate itself and find ways to capture a larger market share.

Puma’s fourth-quarter sales saw an increase of 9.8 percent, but this growth was below the 12 percent rise that analysts had forecasted, signaling a slowdown in momentum. The company's net profit for the year also declined, falling to $293 million from $317.5 million the previous year. A significant contributor to this dip in profit was an increase in interest payments on Puma's debt, which weighed heavily on the brand’s overall financial performance.

With these weaker results, questions are now being raised about Puma’s ability to effectively challenge its larger counterparts, Adidas and Nike, and whether it can regain momentum and capture a larger slice of the sportswear market. While Puma continues to focus on developing new products, it is clear that the brand will need to implement more strategic moves and innovative marketing campaigns to stay competitive in an industry that is evolving rapidly.

Jaipur Rugs, a leading player in the Indian retail and handmade rug industry, has announced the acquisition of Shyam Ahuja, a luxury rug and fabric brand known for its exceptional Indian carpets and global recognition. This acquisition, which includes both the personal collection of Shyam Ahuja and his entire design archive, is a significant move for Jaipur Rugs as it strengthens its position in the global luxury market. The brand intends to continue developing Shyam Ahuja as a separate entity, maintaining its unique identity with its own supply chain.

Founded in 1963, Shyam Ahuja built a reputation for luxury rugs with a distinct focus on dhurries, setting global milestones with his sophisticated designs and craftsmanship. His brand became synonymous with understated luxury and elegance, gaining a loyal following among A-list designers and celebrities. Shyam Ahuja's rugs have adorned the homes of high-profile figures like Jacqueline Kennedy-Onassis and Gianni Versace, and his book, *Dhurrie: Flatwoven Rugs of India*, remains a key reference in the industry.

Jaipur Rugs, established in 1978 by Nand Kishore Chaudhary, has become India's largest manufacturer of handmade carpets. The company has grown into a global brand with a strong social enterprise model that benefits artisans in rural India. With a workforce of over 40,000 craftspeople, of whom 85 percent are women, Jaipur Rugs operates in more than 85 countries. Its global presence includes showrooms in major cities such as Milan, London, Singapore, Dubai, and New York.

“We are thrilled to have acquired the exceptional brand, Shyam Ahuja, with his legacy known for timeless design, exceptional craftsmanship, and unwavering commitment to quality. We have a shared vision for preserving and elevating the artisanal wealth of our country. The brand has an extremely strong emotional connection with so many customers and patrons around the world, which we will harness to revive the glory days of Shyam Ahuja and re-establish its unique positioning at the top of the market, globally,” said Yogesh Chaudhary, Director, Jaipur Rugs.

Greg Foster, Artistic Director at Jaipur Rugs said, “I have long been an admirer of Shyam Ahuja and the cult status aura that surrounds the brand. His instantly recognizable dhurrie designs and sophisticated sensibility for color make for the richest design archive to curate from. It gives me immense joy to see Jaipur Rugs acquire the jewel in the crown – a sleeping beauty that we intend to revive with great respect.”

Shyam Ahuja's legacy is one of high-end luxury, with his designs being widely regarded for their use of subtle colors and exceptional craftsmanship. His influence in the 1980s and 1990s marked a period of growth for luxury Indian brands internationally. The New York showroom, which remains a powerful name in the industry, continues to generate excitement among loyal collectors, reinforcing the brand’s legacy in the global market.

Jaipur Rugs has announced plans to revive Shyam Ahuja's brand and intends to continue its legacy of producing luxury rugs that resonate with global customers. The company has grown significantly since its inception and remains committed to preserving India’s artisanal heritage while expanding its international footprint. Further developments and plans for the brand will be announced in due course, with business continuing as usual through showrooms in Mumbai, Delhi, and New York.

W for Woman, a prominent brand under Aditya Birla Fashion and Retail Ltd. (ABFRL), will make its debut at New York Fashion Week (NYFW) 2025, becoming the only Indian wear brand of this scale to launch its Spring Summer 2025 collection at the prestigious event. This move highlights India’s growing presence in the global fashion retail scene, with the brand featuring in the exclusive ‘Made in India’ segment, which underscores the nation's evolving fashion narrative.

On February 6th, 2025, W for Woman will present its runway show at Sony Hall in Manhattan, where the brand will showcase models in designs that reflect the modern Indian woman, who blends traditional values with a global perspective. The show promises a vibrant celebration of India's fashion heritage, infused with contemporary aesthetics and silhouettes.

Anant Daga, Chief Executive Officer of the TCNS Division at Aditya Birla Fashion and Retail shared, “We are honoured to represent the essence of modern India at New York Fashion Week 2025. This showcase is a testament to ‘W’s’ commitment to blending India’s rich culture with contemporary fashion, making it relevant on a global stage. Our participation in New York Fashion Week underlines our belief in the strength and appeal of Indian fashion, and we are excited to bring our unique perspective to an international audience.”

The Spring Summer 2025 collection has been curated to appeal to a diverse audience, celebrating the many facets of Indian fashion. It combines traditional craftsmanship, experimental fusion wear, and luxurious Indian wedding attire, catering to a variety of styles and occasions. Each capsule collection tells a distinct story, blending timeless elements with modern design to meet the needs of contemporary consumers.

W for Woman’s participation at NYFW marks a significant milestone for the brand and Indian fashion as a whole. It reinforces the global appeal of India’s fashion industry by bridging the gap between tradition and modernity. Through this debut, the brand aims to redefine ethnic wear and position itself as a leader in contemporary Indian fashion on the international stage.

Adani Wilmar Limited, one of India’s largest FMCG food companies, has officially launched operations at its integrated food processing plant in Gohana, District Sonepat, Haryana. The commencement of operations was marked by the first dispatch of 100 metric tonnes of rice, signifying a key milestone in the company’s expansion.

This new food complex is one of the largest in India, built with a capital investment of Rs 1,298 crore funded by IPO proceeds. The plant is expected to become an economic driver for the region, with projections to generate 2,000 jobs, both direct and indirect, contributing to the local economy.

Adani Wilmar’s largest greenfield project is an integrated food complex that is steadily progressing. To date, more than 10,000 metric tonnes of steel, 7,500 metric tonnes of Tor steel, and 100,000 bags of cement have been used, marking significant progress. The project has involved considerable engineering planning and execution, laying the foundation for a transformative infrastructure set to impact food production in India.

Angshu Mallick, MD and CEO of Adani Wilmar Limited said, “The commencement of our Gohana plant represents a significant step forward in our commitment to India’s food security and economic growth. This state-of-the-art facility exemplifies our mission to support a healthy growing nation by bringing advanced technology and world-class infrastructure to ensure citizens have access to the best quality branded staple foods. We have a central audit system which ensures quality checks. We ensure that all our specifications meet FSSAI requirements and that all our plants follow the American Institute of Bakers standard, which has over 280 points on which audit is done. All our endeavors are towards delivering the best quality food products to people. Beyond enhancing our production capabilities, this plant will create substantial employment opportunities, driving socio-economic development and empowering communities to thrive.”

The facility, covering 85 acres, is designed by Larsen and Toubro Technology Services (L&T) and is equipped with advanced technology to produce a wide range of food products. With an annual production capacity of 627,000 metric tonnes, the plant will manufacture 450,000 metric tonnes of food products such as rice, wheat flour, suji, rawa, and maida, as well as 200,000 metric tonnes of edible oils including mustard oil, rice bran oil, and cottonseed oil, in addition to Mustard DOC and Ricebran DOC for animal feed.

Pawan Kumar Jaitly, Global Delivery Head-FMCG, Plant Engineering at Larsen and Toubro Technology Services stated, “The integrated facility demonstrates L&T’s expertise in building world-class food processing infrastructure. The 85-acre plant incorporates construction technologies and sustainable design principles, setting new benchmarks in the industry. We’re proud to have delivered this project that will significantly boost India’s food processing capabilities.”

The plant features several specialized processing units, including a state-of-the-art rice processing unit by Satake Corporation and a 350 TPD wheat processing unit designed by Bühler Group. These units ensure high quality and efficiency in rice and wheat flour production. The plant has also partnered with Alfa Laval India, Mactek Solutions, and Kirby Building Systems to incorporate advanced engineering systems and sustainable structural designs.

Sustainability is a key focus of the plant’s design. It will utilize biomass fuel, specifically rice husk, and features a rainwater harvesting system that complies with Central Ground Water Board (CGWB) norms. The installation of rooftop solar panels with a 5.6 MW capacity is underway, along with a zero-liquid discharge system to ensure no water discharge into the local area. The facility also includes a co-generation plant capable of generating 3.2 MW of electricity, contributing to the plant's energy efficiency.

This strategic investment aligns with Adani Wilmar’s vision to strengthen India’s food processing sector while contributing to the economic development of the region. The plant’s location in Haryana, known for its agricultural significance, ensures easy access to raw materials and offers a direct market for local farmers’ produce.

Heritage Foods posted a consolidated net profit of Rs 43.05 crore in Q3 FY25, a 60.03 percent increase compared to Rs 26.91 crore in Q3 FY24. The company reported a 9.86 percent rise in revenue from operations, reaching Rs 1,033.9 crore during the same period. The performance highlights Heritage Foods’ strong position in the retail and dairy sectors in India.  

Profit before tax surged 63.13 percent year-on-year (YoY) to Rs 58.81 crore, up from Rs 36.05 crore in the corresponding quarter of the previous year. EBITDA increased 43 percent YoY to Rs 74.10 crore, with the EBITDA margin improving by 164 basis points to 7.2 percent.  

In terms of segmental performance, the dairy division generated Rs 1,019.5 crore in revenue, up 10.52 percent YoY. Feed revenue grew by 14.61 percent YoY to Rs 50.89 crore, while renewable energy revenue dropped 14.56 percent YoY to Rs 1.29 crore.  

During the quarter, the average milk procurement price fell 2.7 percent YoY to Rs 41.91 per litre but increased by Rs 1.66 compared to Q2. Milk procurement volumes grew by 12.62 percent YoY, reaching 1.84 million litres per day (MLPD). Meanwhile, milk sales volumes increased by 6.08 percent YoY to 1.17 MLPD. However, the average selling price declined slightly to Rs 54.64 per litre from Rs 55 per litre due to changes in product mix.  

Heritage Foods’ value-added products (VAP) segment reported significant growth, with revenues rising 17.6 percent YoY to Rs 287.40 crore. The segment's contribution to total revenue increased to 28.2 percent, compared to 26.5 percent in Q3 FY24.  

Brahmani Nara, Executive Director of Heritage Foods said, “In Q3 FY25, our revenue grew by 10 percent year-on-year, reaching Rs 10,339 million. EBITDA for the quarter was Rs 741 million, resulting in a margin of 7.2 percent. Notably, our net profit increased significantly by 60 percent year-on-year to Rs 431 million, resulting in a margin of 4.2 percent, further reinforcing our strong financial standing.”  

Heritage Foods continues to focus on strengthening its supply chain, expanding its geographical reach, and increasing its focus on value-added products. Nara emphasized the importance of value-added products as a key revenue and margin driver and reaffirmed the company’s commitment to innovation, quality, and customer engagement.  

With operations across Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand, and Uttar Pradesh, Heritage Foods remains one of the largest private-sector dairy enterprises in southern India.

Nasdaq-listed online travel platform MakeMyTrip (MMT) posted an 11.8 percent rise in profit for the third quarter (Q3) of the financial year 2024-25 (FY25), reaching $27.1 million compared to $24.2 million in the same period last year. The company's revenue also grew by 24.8 percent year-on-year, amounting to $267.4 million, up from $214.2 million.  

According to the company, "the increase in revenue was primarily due to strong travel demand in India for both domestic and international outbound travel in the quarter ended December 31, 2024."  

The hotels and packages segment led the revenue growth, generating $121.9 million in Q3 FY25, a year-on-year increase of 24.9 percent. The bus ticketing segment also saw notable growth, with revenue rising by 31.3 percent to $35 million.  

"The Indian travel and tourism sector is witnessing robust growth, reflecting a strong desire among travelers to explore new horizons. While Indian destinations continue to shine, many countries have made significant efforts to attract Indian travelers. Our strong performance this quarter reflects these macro trends, along with our focused execution and commitment to customer centricity," said Group Chief Executive Officer Rajesh Magow.  

The air ticketing business also contributed to the overall growth, with revenue increasing by 20 percent to $93.8 million during the same period.  

"Our disciplined approach to cost management, combined with targeted investments in technology and customer experience, has enabled us to capitalise on growing travel demand and drive profitable growth," said Mohit Kabra, Group Chief Financial Officer.  

MakeMyTrip's performance in Q3 FY25 highlights the increasing demand for travel within and outside India, positioning the company to benefit from the ongoing growth in the travel and tourism industry.

Raymond Lifestyle Ltd has entered the innerwear segment in India’s retail sector with the launch of its new Park Avenue Innerwear category. This marks a notable diversification in the company’s portfolio, reflecting its ongoing growth strategy.  

The launch event was inaugurated by Chairman and Managing Director Gautam Singhania, who participated in the ribbon-cutting and lamp-lighting ceremony alongside other leaders and dignitaries.  

The event featured a carnival-themed celebration with activities like magic shows and dance performances to mark the occasion. While the atmosphere was celebratory, the company emphasized its focus on bringing innovation and quality to the innerwear category.  

“This new innerwear category is a first for Raymond Lifestyle, showcasing our commitment to innovation and excellence. We are excited about this venture and look forward to significantly impacting the innerwear industry,” the company stated.  

Raymond’s entry into the innerwear segment signals its intent to further strengthen its position in India’s retail market through portfolio diversification and an expanded product range.  

New Delhi-based beer manufacturer Medusa Beverages has raised Rs 56 crore in a Series A funding round to strengthen its manufacturing and distribution capabilities in retail across India. The funding round was led by Amal N Parikh and Ashwin Kedia, with co-investments from Ramesh Damani, Nikhil Garg, Crest Opportunities, and high-net-worth individuals (HNIs) from Singapore, the UK, and the UAE.  

The company plans to allocate the funds toward expanding its annual production capacity, which currently stands at 2 lakh hectoliters. Additionally, part of the investment will go toward strategic initiatives across the value chain, including diversifying its portfolio within the alco-bev industry through flavored beer extensions and adjacent segments.  

Founded in 2017, Medusa Beverages operates in Delhi, Punjab, Uttar Pradesh, Chhattisgarh, and Himachal Pradesh. It plans to enhance its retail presence in these regions while deepening its footprint across North and Central India, including markets like Assam, Andhra Pradesh, and Haryana, by the end of this fiscal year.  

Medusa Beverages aims to position itself as a strong player in India’s growing alco-bev market, with its strategic expansion and diversification plans centered around increasing its retail presence and achieving sustainable growth.  

Jos Alukkas, a prominent name in India's retail jewellery market, has recorded a 28 percent growth in diamond jewellery sales, driven by its commitment to quality and efforts to promote natural diamonds in partnership with the Natural Diamond Council (NDC). The growth reflects the increasing consumer preference for premium jewellery and India's position as a key market for natural diamonds.  

Varghese Alukkas, Managing Director of Jos Alukkas Group said, “India has emerged as the second-largest market for diamond jewellery, underscoring the nation’s deepening appreciation for natural diamonds. At Jos Alukkas, we have recorded an impressive 28 percent growth in diamond sales in the first nine months of this financial year. This remarkable performance reflects the emotional connection and aspirational value natural diamonds bring to our customers. Our partnership with the Natural Diamond Council strengthens our mission to educate consumers about the enduring brilliance and heritage of natural diamonds.”  

The company has observed significant demand in categories like engagement rings, wedding bands, and diamond necklaces, with rising disposable incomes and a growing focus on personal style contributing to the trend. Richa Singh, Managing Director of NDC for India and the Middle East, stated, “We are delighted to collaborate with Jos Alukkas to spread awareness about the unparalleled qualities and ethical sourcing of natural diamonds. Through this partnership, we aim to reach a wider audience by creating engaging content, hosting workshops, and equipping sales teams with tools to narrate the extraordinary journey of natural diamonds. Together, we hope to drive sustainable growth and reinforce the importance of natural diamonds as a key contributor to India’s jewellery industry.”  

Jos Alukkas also highlighted projections for the Indian diamond market, which is expected to grow by 150 percent to $18 billion over the next decade. John Alukkas, Managing Director of Jos Alukkas Group, emphasized, “India continues to lead the global diamond market. At Jos Alukkas, we see natural diamonds not just as symbols of luxury but as reflections of individuality, artistry, and sophistication. Our goal is to make these treasures more accessible to consumers through innovative designs that resonate with modern lifestyles.”  

Paul J Alukkas, Managing Director of Jos Alukkas added, “Through our partnership with the Natural Diamond Council, we aim to inspire trust and admiration for natural diamonds while championing their positive impact on global communities. This collaboration reflects our vision to preserve the heritage of natural diamonds while ensuring they continue to bring joy and meaning to generations to come.”  

The partnership between Jos Alukkas and NDC aims to enhance consumer trust and awareness about natural diamonds while contributing to the steady growth of India’s retail jewellery market.

Global cosmetics brand SheGlam, owned by the e-commerce company Shein, has entered the Indian market through a partnership with Reliance Retail's beauty platform, Tira. Currently, SheGlam products are available on Tira’s website and app, with plans to expand availability to physical Tira stores soon.  

SheGlam, headquartered in Singapore, claims to sell three products globally every second. Its India lineup includes a range of products such as liquid blush, liquid highlighter, lipsticks, and foundation.  

Reliance Retail, the retail arm of Reliance Industries Ltd. (RIL), introduced Tira as an e-commerce platform in February 2023 and launched its flagship physical store at Jio World Drive in Mumbai in April the same year. Tira now operates over 13 stores across India and offers more than 150 Indian and international beauty brands.  

Reliance Retail Ltd. (RRL), a subsidiary of Reliance Retail Ventures Ltd. (RRVL), manages an extensive omni-channel retail network in India with over 18,771 stores spanning grocery, consumer electronics, fashion, lifestyle, and pharma. The collaboration with SheGlam further strengthens Tira’s portfolio as a comprehensive beauty platform in the Indian retail market.

As 2024 ends, Kumar Mangalam Birla, Chairman of the Aditya Birla Group, reflects on 25 transformative years that have reshaped global industries and markets. The turn of 2025 signals the emergence of what he terms a “U3 world”—uncertain, unpredictable, and unorthodox. The retail and industrial sectors in India have played pivotal roles in adapting to these shifts, further solidifying the country’s position in the global economic landscape.  

Global Trends and India's Role in Manufacturing

Birla highlights the ongoing global push for resilient supply chains, where India has emerged as a key player. He notes, “The migration of Apple’s ecosystem to India is emblematic of this transition; soon, a quarter of the world’s iPhones could be made in India.” India’s automobile and cement industries, often underappreciated, have also shown global strength.  

The Group’s flagship UltraTech Cement achieved a production capacity milestone of 150 MTPA in 2024, producing more than 1.5 times the total cement output of the United States. “This is a marker of India’s rising industrial strength and its emergence as a pivotal player in the global manufacturing renaissance,” Birla stated.  

Aditya Birla Group's Achievements in 2024
For the Aditya Birla Group, 2024 marked significant achievements across its diverse portfolio. The Group launched and scaled platforms in high-growth sectors like paints, jewellery retail, and B2B e-commerce for building materials. Core businesses in cement and metals were further strengthened, and the telecom joint venture was revitalized. Transformations were also accelerated in financial services and fashion retail, making the year a period of remarkable milestones.  

Birla asserted, “The breadth, depth, and scale of our businesses demonstrate the power and dynamism of the Group. Our combination of capital, talent pool, brand power, and industry expertise enabled us to move decisively, even amid global uncertainty.”  

Investing in Talent and Entrepreneurship
The legacy of BITS Pilani, celebrating its 60th anniversary in 2024, also underscores the Group’s commitment to nurturing talent. Founded by Birla’s great-grandfather, GD Birla, the institution has become a hub for India’s entrepreneurial spirit, producing over 6,400 startup founders, including the creators of 17 unicorns and decacorns.  

Birla added, “While Pilani’s recognition is a positive outcome, the true aim was to create a talent factory for a rapidly industrializing India.” The Aditya Birla Scholarships program, launched in memory of his father, has similarly fostered 781 globally accomplished scholars.  

Looking Ahead to 2025 and Beyond
Reflecting on technological advancements, Birla notes the paradox of the digital age, where connectivity has also led to fragmentation. However, he remains optimistic about the future, anticipating a shift toward innovation that fosters unity and authenticity. “The hunger for connectedness—deeper than algorithm-driven engagement—will drive the next wave of innovation,” he predicts.  

As India continues to grow as a global industrial and retail powerhouse, the Aditya Birla Group’s milestones in 2024 highlight its role in shaping the future of business and innovation while navigating a world of challenges and opportunities. 

DigiHaat, the innovative buyer app developed by Nirmit Bharat, a fully owned subsidiary of ONDC Network, has announced the appointment of Rahul Vij as its new Chief Operating Officer (COO). This new leadership addition is expected to bring a fresh perspective to the platform and further strengthen its position in the digital commerce space.

“We warmly welcome Vij in the company and are enthused to see him in his element. Owing to his previous experience, he will play an integral role at DigiHaat in promoting a convenient and more accessible user experience for consumers,” said Kirshan Agarwal, Director, DigiHaat.

Vij is a seasoned professional with over a decade of experience in organizational growth, strategy, and efficiency. Having worked in various leadership roles at top-tier companies, including Vice President at MagicPin, Zonal Manager at Reckitt, and Marketing Manager at Amazon India, Vij brings a wealth of expertise to his new position. His track record of driving business growth in competitive sectors makes him an ideal fit for DigiHaat’s ambitious goals in the rapidly evolving digital commerce landscape.

“DigiHaat is making significant strides in the digital commerce segment, and I am honored to be a part of this revolution. With my debut in the company, I look forward to contributing to its growth and building an ecosystem of resilience and efficiency to deliver value to the customers as well as the stakeholders,” commented Vij. 

DigiHaat, an initiative of Nirmit Bharat, is an e-commerce platform hosted on the ONDC Network that aims to empower small sellers, artisans, and underserved communities by providing transparent listings, fair pricing, and data privacy. The platform spans a wide range of categories, including groceries, food delivery, fashion, electronics, and home décor, and seeks to create an ecosystem where users, regardless of their location or economic status, can benefit from reliable and affordable options.

The appointment of Rahul Vij as COO marks a significant step for DigiHaat as it continues to expand its reach and enhance its service offerings. Under Vij’s leadership, the platform aims to refine its user experience and further, its mission of providing small sellers and underserved groups with an equal opportunity in the digital marketplace, ensuring that they can connect with a broader customer base across the country.

Zippo.in, the official online destination for Zippo windproof lighters and accessories in India, has launched a redesigned website to improve the retail shopping experience for Indian consumers. The updated platform focuses on delivering a streamlined, user-friendly online experience while showcasing Zippo's iconic product range. The collection of lighters, priced between Rs 2,000 and Rs 10,000, includes a variety of designs inspired by traditional, ethnic, contemporary, and classic Zippo styles, catering to the preferences of both men and women in India.

The new Zippo.in features a modern and clean aesthetic, offering improved navigation and enhanced functionality. Customers can easily browse the diverse selection of Zippo windproof lighters, including classic models, limited edition releases, and customizable options. The platform also displays detailed product descriptions, transparent pricing, and a full range of Zippo accessories such as lighter inserts, fuel, and cases.

In addition to product browsing, Zippo.in offers valuable resources for consumers, including comprehensive customer service support. This section provides shipping information, return policies, and frequently asked questions. The website also integrates social media links, allowing customers to connect with the Zippo community and access flash deals.

Key improvements on the revamped Zippo.in website include:

•  "Streamlined Product Categories": Easy navigation through distinct categories like Pocket Lighters, Hand Warmers, Inserts and Fuel, and Accessories
•  "Enhanced Product Pages": Clear product descriptions, multiple images, and pricing details for a comprehensive product view
•  "Customizable Lighters": Options to personalize lighters for a unique experience
•  "Improved Search Functionality": Efficient product searches with an upgraded search bar
•  "Dedicated Customer Service Section": Access to essential information regarding shipping, returns, and FAQs
•  "Social Media Integration": Opportunities to engage with the Zippo community
•  "Flash Deals": Special offers on various Zippo accessories

Zippo has also partnered with renowned artists, such as Claudio Mazzi, Guy Harvey, Anne Stokes, Luis Royo, and Spazuk, who have extensive experience in product design. These collaborations aim to enhance the customer experience by offering exclusive designs for Zippo products.

Brent Tyler, Associate Vice President of Marketing at Zippo said, “We are excited to introduce the refreshed Zippo.in, further demonstrating our commitment to providing Indian customers with a superior online experience. The updated website not only showcases our diverse product portfolio but also reinforces the timeless appeal and quality craftsmanship of the Zippo brand.”

The Reserve Bank of India (RBI) economists have highlighted a positive shift in economic activity indicators during the second half of 2024-25 (H2FY25), suggesting that India’s economy is set for a rebound, fueled by renewed strength in domestic demand, particularly in the retail sector.

In a recent report, the economists emphasized that rural demand is picking up, signaling resilient consumption driven by favorable agricultural conditions. They also noted that the revival of public capital expenditure (capex) in infrastructure projects is expected to boost growth across key sectors. 

However, the economists caution that the manufacturing sector may face challenges due to rising input costs, weather-related issues, and global economic uncertainties. "The time is apposite to rekindle the animal spirits, create mass consumer demand and trigger a boom in investment," the report states, coinciding with the anticipation of the Union Budget presentation by Finance Minister Nirmala Sitharaman.

The report further highlighted that private final consumption remains a key driver in the economy, particularly spurred by the growth of e-commerce and quick commerce. Encouraging competition in these sectors is seen as crucial for sustaining momentum. To further stimulate the economy, boosting consumption may be an effective strategy, the economists suggest.

The demand for household staples showed moderate growth in the October-December quarter, with the middle class hopeful for relief from food inflation, resulting in higher disposable incomes, particularly in urban areas. Rural demand is also expected to maintain strong volume growth, according to the report.

Headline inflation showed signs of easing for the second consecutive month in December. However, food inflation remains a concern, warranting vigilance regarding its secondary effects. The economists anticipate that disinflation may continue at an uneven pace, potentially allowing for some limited monetary policy easing. The Reserve Bank of India clarified that these views are those of the authors and not the official stance of the RBI.

Spencer’s Retail, the retail division of the RP Sanjiv Goenka Group, has announced its entry into India’s quick commerce market with the launch of its new service, Jiffy. Initially, Jiffy will roll out in Kolkata, with plans to expand across West Bengal and Uttar Pradesh (UP). The retailer currently operates 89 stores in these regions, leveraging its existing retail network to support the new venture.  

Jiffy marks the reintroduction of the Spencer’s app under a new brand, offering merchandise delivery within 30 minutes. Shashwat Goenka, Chairman of Spencer’s Retail said, “We aim to fulfill orders within 20-30 minutes by utilizing our existing stores.” Unlike other players in the sector, Spencer’s Retail will not invest in dedicated dark stores but will rely on a third-party fleet operator to manage delivery logistics.  

The company reported a reduction in its net loss to Rs 47.34 crore in Q3 FY25, down from Rs 51.20 crore in the same period the previous year. However, its revenue declined by 21 percent year-on-year to Rs 516.97 crore, impacted by store closures.  

India’s quick commerce market has witnessed significant growth, attracting both established and emerging players. Blinkit, Zepto, and Instamart currently dominate the segment, while newer entrants like Flipkart, BigBasket, and Amazon are expanding their presence. Additionally, Walmart-backed PhonePe recently announced its foray into the space with its quick commerce platform, Pincode.  

Spencer’s Retail’s move into the quick commerce sector reflects the increasing competition and demand for faster delivery services in India’s evolving retail landscape.